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Silicon Motion Technology Corporation (NASDAQ: SIMO)

Case Details

Join The Class Action
This lawsuit is for anyone who acquired securities in Silicon Motion Technology Corporation (NASDAQ: SIMO) from June 6, 2023 through July 26, 2023.
 
The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by telling investors that the Company’s merger with MaxLinear would go through despite that the Company knew that MaxLinear intended not to go through with the agreement regardless whether Chinese regulators approved the deal.
 

On July 26, 2023, MaxLinear announced that it was terminating a merger agreement with Silicon Motion less than a day after Chinese regulatory authorities had approved the combination. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

 
The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Silicon Motion Technology Corporation (NASDAQ: SIMO) from June 6, 2023 through July 26, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.