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Investigation announced for Investors in shares of Cypress Semiconductor Corporation (NASDAQ: CY)

03-23-2020 08:41 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation for investors in Cypress Semiconductor Corporation (NASDAQ: CY) shares over potential securities laws violations.

An investigation for investors in Cypress Semiconductor Corporation (NASDAQ: CY) shares over potential securities laws violations.

An investigation was announced o over potential securities laws violations by Cypress Semiconductor Corporation and certain of its directors and officers in connection with certain financial statements.

Investors who purchased shares of Cypress Semiconductor Corporation (NASDAQ: CY), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Cypress Semiconductor Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

San Jose, CA based Cypress Semiconductor Corporation designs, develops, manufactures, markets, and sells embedded system solutions worldwide. Cypress Semiconductor Corporation reported that its annual Total Revenue declined from over $2.48 billion in 2018 to over $2.2 billion in 2019 and that its Net Income declined from $354.59 million in 2018 to $40.42 million in 2019.

On March 3, 2020 Cypress was named in an FDA news release on March 3, 2020, regarding cybersecurity vulnerabilities. The purpose of the FDA release was, "informing patients, health care providers and manufacturers about a set of cybersecurity vulnerabilities, referred to as 'SweynTooth,' that--if exploited--may introduce risks for certain medical devices." According to the FDA, Cypress is one "of several manufacturers that are affected by these vulnerabilities."

Shares of Cypress Semiconductor Corporation (NASDAQ: CY) declined on March 9, 2020 to as low as $14.91 per share.

Those who purchased shares of Cypress Semiconductor Corporation (NASDAQ: CY) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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