NEW YORK, March 1, 2008 (PRIME NEWSWIRE) -- The Rosen Law Firm announces that shareholders of Maxim Integrated Products, Inc. ("Maxim" or the "Company")(Pink Sheets:MXIM) formerly (Nasdaq:MXIM) who purchased shares or options of the Company during the period from April 29, 2003 through January 17, 2008 have only until April 7, 2008 to seek appointment as Lead Plaintiff in the securities class action lawsuit currently pending in the United States District Court for the Northern District of California. No class has yet been certified in this action. If you purchased Maxim stock or options you can participate in this securities class action to recover losses for Maxim investors.
To join the Maxim class action, go to the website at http://www.rosenlegal.com or call Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.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 ALSO REMAIN AN ABSENT CLASS MEMBER.
While other law firms have issues notices of the class action, the Rosen Law Firm is the only law firm to file a class action on behalf of Maxim investors to date.
The complaint charges that Maxim and certain of its former officers violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by engaging in improper stock option backdating that caused the issuance of materially false and misleading financial statements during the Class Period.
The Complaint asserts that on January 17, 2008, the Company announced that it would be restating its financial statements to record between $550 million and $650 million of additional stock-based compensation expense and that its previously issued financial statements could no longer be relied on. As a result of these adverse disclosures, the Company's stock price has declined 22%.
A class action lawsuit has already been filed on behalf of Maxim shareholders. If you wish to serve as lead plaintiff, you must move the Court no later than April 7, 2008. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact plaintiff's counsel, Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com.
The Rosen Law Firm has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud. The Rosen Law Firm represents investors throughout the nation, concentrating its practice in securities class actions.
More information on this and other class actions can be found on the Class Action Newsline at www.primenewswire.com/ca.