INVESTOR ALERT: Law Offices of Howard G. Smith Commences Investigation on Behalf of Microchip Technology Incorporated Investors
Sep. 05, 2018
BENSALEM, Pa.--(BUSINESS WIRE)--Sep 4, 2018--Law Offices of Howard G. Smith announces an investigation on behalf of Microchip Technology Incorporated investors (“Microchip” or the “Company”) (NASDAQ: MCHP) concerning the Company and its officers’ possible violations of federal securities laws.
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, just months later, on August 9, 2018, Microchip disclosed that the Company was “adversely impacted by $226.9 million of Microsemi purchase accounting, restructuring and other charges,” and furthermore that “Microsemi was extremely aggressive in shipping inventory into the distribution channel.” On this news shares of Microchip declined sharply in value, falling $10.67 per share, or over 10% to close on August 10, 2018, at $87.41 per share.
If you purchased Microchip securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180904005956/en/
CONTACT: Law Offices of Howard G. Smith
Howard G. Smith, Esquire
KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Law Offices of Howard G. Smith
Copyright Business Wire 2018.
PUB: 09/04/2018 09:20 PM/DISC: 09/04/2018 09:20 PM