NEW YORK, April 30, 2015 /PRNewswire/ -- Securities lawyers at Dunnam & Dunnam are investigating allegations for Magnachip Semiconductor Corporation shareholders (NYSE:MX). Concerned MX investors who purchased between February 1, 2012 and February 12, 2015 are encouraged to contact securities attorney Hamilton Lindley by clicking here.
According to the complaint, Magnachip failed to disclose during the class period listed above in connection with the Offering that Magnachip was improperly recognizing revenues and overstated its revenues and earnings for 2011, 2012 and the first nine months of 2013. The complaint states that following a January 2014 disclosure by Magnachip that it could not timely file its annual financial report for fiscal 2013 and that it would be restating its 2011, 2012 and 2013 financial results after concluding that it had incorrectly recognized revenue on certain transactions. Following a February 12, 2015 filing by Magnachip wherein it restated its financial results for fiscal years 2011, 2012, and the first three quarters of 2013, its shares declined dramatically.
Dunnam & Dunnam has significant experience representing shareholders in securities lawsuits nationwide. MX stockholders – or anyone with knowledge about this situation – should contact lawyer Hamilton Lindley at [email protected] with questions, toll free at (844) 702-2990 or visit http://www.dunnamlaw.com/MX.
SOURCE Dunnam & Dunnam