Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Microchip Technology Incorporated (NasdaqGS: MCHP).
In late May 2018, the Company announced the completion of its acquisition of Microsemi Corporation, assuring shareholders of its success, that the “deal is accretive on day one without doing anything, without any synergy,” and was “strategically and financially, a very compelling transaction.” However, just months later, on August 9, 2018, the company disclosed that its financial performance was adversely impacted by the acquisition of Microsemi, which “was extremely aggressive in shipping inventory into the distribution channel.”
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws. Recently, the court in that case denied the Company’s motion to dismiss in part, allowing the case to move forward.
KSF’s investigation is focusing on whether Microchip’s officers and/or directors breached their fiduciary duties to Microchip’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Microchip shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org), or fill out the form on this page.