NOTICE: Pawar Law Group Announces a Securities Class Action Lawsuit Against Microchip Technology Inc. - MCHP
NEW YORK, NY / ACCESSWIRE / September 26, 2018 / Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Microchip Technology Inc. (MCHP) from May 31, 2018 through August 9, 2018, inclusive (the "Class Period"). The lawsuit seeks to recover damages for Microchip investors under the federal securities laws.
To join the Microchip class action, go to http://pawarlawgroup.com/cases/microchip-technology-inc/ or call Vik Pawar, Esq. toll-free at 888-589-9804 or email vik@pawarlawgroup.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR'S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.
The lawsuit alleges that on May 29, 2018, Microchip announced the completion of its acquisition of Microsemi Corporation ("Microsemi") and promised investors hundreds of millions of dollars in synergies from the combination of Microchip and Microsemi. However, shortly after on August 9, 2018, Microchip disclosed that Microchip was "adversely impacted by $226.9 million of Microsemi purchase accounting, restructuring and other charges." On this news, shares of Microchip plummeted $10.67 per share, or over 10.8%, to close at $87.41 per share on August 10, 2018.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 16, 2018. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://pawarlawgroup.com/cases/microchip-technology-inc/ or to discuss your rights or interests regarding this class action, please contact Vik Pawar, Esq. of Pawar Law Group toll free at 888-589-9804 or via e-mail at vik@pawarlawgroup.com.
Pawar Law Group represents investors from around the world.
Vik Pawar, Esq.
Pawar Law Group P.C
20 Vesey Street Suite 1210
New York, NY 10007
Tel: (917) 261-2277
Toll Free: 888-589-9804
Fax: (212) -571-0938
vik@pawarlawgroup.com
www.pawarlawgroup.com
SOURCE: Pawar Law Group
