Block & Leviton Launches Investigation of Montage Technology Group Ltd. for Possible Violations of the Federal Securities Laws
BOSTON, Feb. 10, 2014 /PRNewswire/ -- Block & Leviton LLP (blockesq.com), a Boston-based law firm representing investors nationwide, is investigating possible securities law violations involving Montage Technology Group Ltd. ("Montage Technology" or the "Company") (NASDAQ: MONT).
The investigation is related to recent allegations that Montage Technology, a Chinese fabrications semiconductor manufacturer, has grossly overstated its revenue and misled investors with regards to its financial performance. Specifically, Gravity Research issued a report on February 6, 2014 which alleges, among other things, that at least 71% of Montage Technology's revenue in the first three quarters of 2013 was fictitious. According to the Gravity Research report, Montage Technology's largest distributor—LQW Technology Company Limited— is, in fact, owned by an entity created by Montage Technology and one of its employees. According to the report, this distributor is "nothing more than a shell company used to help fabricate [Montage Technology's] financials."
In the hours after the release of the Gravity Research report, shares of Montage Technology dropped more than 30 percent. Block & Leviton's investigation seeks to determine, among other things, whether Montage Technology or its officers and directors have violated the Securities Exchange Act of 1934 or any other federal securities laws. If you have any information relevant to this investigation or if you purchased Montage Technology shares prior to February 6, 2014 and have questions about your legal rights, please contact Attorney Joel A. Fleming at 617-398-5600 or via email at Joel@blockesq.com.
Block & Leviton is a Boston-based law firm representing investors for violations of the securities laws. The firm's attorneys have collectively been prosecuting securities cases on behalf of investors for over 50 years. This notice may constitute attorney advertising.
Contact: BLOCK & LEVITON LLP
Joel A. Fleming, Esq.
SOURCE Block & Leviton LLP