Press release
Lawsuit filed for Investors in shares of Alpha and Omega Semiconductor Limited (NASDAQ: AOSL)
A lawsuit was filed on behalf of investors in Alpha and Omega Semiconductor Limited (NASDAQ: AOSL) shares.
Investors who purchased shares of Alpha and Omega Semiconductor Limited (NASDAQ: AOSL) have certain options and for certain investors are short and strict deadlines running. Deadline: May 18, 2020. NASDAQ: AOSL investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On February 5, 2020, post-market, Alpha and Omega Semiconductor Limited announced its financial results for the second fiscal quarter of 2020. Alpha and Omega Semiconductor Limited also 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 connection with the investigation."
Shares of Alpha and Omega Semiconductor Limited (NASDAQ: AOSL) declined from $23.00 per share on January 8, 2017, to as low as $7.68 per share on March 13, 2020.
The plaintiff claims that between August 7, 2019 and February 5, 2020, the Defendants failed to disclose to investors that the Company's export control practices were in violation of applicable laws and regulations, that, as a result, the Company was vulnerable to regulatory scrutiny and liability, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Those who purchased shares of Alpha and Omega Semiconductor Limited (NASDAQ: AOSL) 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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