Harwood Feffer LLP Announces Investigation of MagnaChip Semiconductor Corporation
NEW YORK, March 12, 2014 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against MagnaChip Semiconductor Corporation ("MagnaChip" or the "Company") (NYSE: MX) concerning whether it has violated the federal securities laws.
On March 11, 2014, MagnaChip disclosed that the Audit Committee of its Board of Directors determined that the Company incorrectly recognized revenue on certain transactions and as a result will restate its financial statements. Revenue on the transactions was recognized when products were shipped to a distributor but should have been recognized when the distributor shipped the product to the customer.
If you own MagnaChip's shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Matthew M. Houston, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP