NEW YORK, May 8, 2014 (GLOBE NEWSWIRE) -- The Rosen Law Firm reminds all purchasers of MagnaChip Semiconductor Corporation (NYSE:MX) securities between January 30, 2013 and March 11, 2014, of the important May 12, 2014, lead plaintiff deadline in the class action.
To join the MagnaChip class action, go to the website at http://rosenlegal.com or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@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 AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, Defendants made false and/or misleading statements and/or failed to disclose that MagnaChip (a) lacked adequate controls over financial reporting; (b) was improperly recognizing revenues; and (c) its prior financial statements required restatement indicating they were materially inaccurate. When these adverse facts became known, the value of MagnaChip securities declined, damaging investors.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 12, 2014. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact, Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm focuses on prosecuting securities class action litigation and actions involving financial fraud. The Rosen Law Firm represents investors throughout the globe concentrating its practice in securities class actions.