NEW YORK, Nov. 05, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of MaxLinear, Inc. (“MaxLinear” or the “Company”) (NASDAQ: MXL). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether MaxLinear and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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After the market closed on October 25, 2023, MaxLinear reported Q3 2023 EPS of $0.02, which missed estimates by $0.02, and revenue of $135.5M, which missed estimates by $4.22M and represents a 52.6% year over year decline. Following these results, Roth Capital downgraded the Company’s shares to Neutral from Buy on October 26, 2023, citing weaker demand and continued inventory digestion issues in key markets.
On this news, MaxLinear’s stock price fell $4.04 per share, or 21.95%, to close at $14.36 per share on October 26, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
