Investor Alert: Kaplan Fox Announces Investigation Of Alpha and Omega Semiconductor Limited
NEW YORK, March 25, 2020 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Alpha and Omega Semiconductor Limited ("Alpha and Omega" or the "Company") (NASDAQ: AOSL). A complaint has been filed against the Company on behalf of investors that purchased Alpha and Omega securities between August 7, 2019 and February 5, 2020, inclusive (the "Class Period").
On February 5, 2020, after the market closed, Alpha and Omega issued a press release announcing its financial results for the second fiscal quarter of 2020. In its press release, the Company disclosed that the U.S. Department of Justice "recently commenced an investigation into the Company's compliance with export control regulations relating to certain business transactions with Huawei and its affiliates ('Huawei')" and that "[i]n connection with this investigation, [the Department of Commerce] has requested the Company to suspend shipments of its products to Huawei . . . . Accordingly, we expect the financial performance in the March quarter will be negatively impacted by the Huawei shipment interruption and by additional professional fees incurred in connectin with the investigation."
Following this news, Alpha and Omega's stock price fell $1.48 per share, or 12%, to close at $10.85 per share on February 6, 2020.
If you are a member of the proposed Class, you may move the court no later than May 18, 2020 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery. If you would like to discuss the complaint or our investigation, please contact us by emailing firstname.lastname@example.org or by calling 646-315-9003.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this Notice, your rights, or your interests, please contact:
Donald R. Hall
Laurence D. King
SOURCE Kaplan Fox & Kilsheimer LLP