|[March 12, 2014]
MAGNACHIP SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors with Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against MagnaChip Semiconductor Corporation
NEW ORLEANS --(Business Wire)--
Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney
General of Louisiana, Charles C. Foti, Jr., remind investors that they
have until May 12, 2014 to file lead plaintiff applications in a
securities class action lawsuit against MagnaChip Semiconductor
Corporation (NYSE: MX), if they purchased the Company's securities
during the period between January 30, 2013 and March 11, 2014, inclusive
(the "Class Period"). This action is pending in the Northern District of
California United States District Court.
What You May Do
If you purchased shares of MagnaChip and would like to discuss your
legal rights and how this case might affect you and your right to
recover for your economic loss, you may, without obligation or cost to
you, call toll-free at 1-877-515-1850, or email KSF Managing Partner
Lewis Kahn (firstname.lastname@example.org)
or KSF Partner Melinda Nicholson (email@example.com).
If you wish to serve as a lead plaintiff in this class action, you must
petition the Court by May 12, 2014.
About the Lawsuit
MagnaChip and certain of its executives are charged with issuing a
series of materially false and misleading statements during the Class
Period, violating federal securities laws.
On January 27, 2014, MagnaChip announced the postponement of its fourth
quarter 2013 earnings release to provide additional time for the Company
to complete its review of financial results. Then, on March 11, 2014,
MagnaChip disclosed that its Audit Committee found material weaknesses
in internal controls over financial reporting and other accounting
improprieties relating to the Company's recognition of revenue on sales
to distributors, stating that its financial results for the fiscal years
ending December 31, 2011 and December 31, 2012, and the first three
quarters of 2013 will need to be restated, causing MagnaChip's shares to
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana
Attorney General, Charles C. Foti, Jr., and other lawyers with
significant experience litigating complex securities class actions
nationwide on behalf of both institutional and individual shareholders,
you may visit www.ksfcounsel.com.
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