NEW YORK, Feb. 03, 2024 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Silicon Laboratories Inc. (“Silicon Labs” or the “Company”) (NASDAQ: SLAB). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Silicon Labs and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On January 29, 2024, Silicon Labs issued a press release “announc[ing] a one-week delay to its scheduled earnings conference call for the quarter ended on December 30, 2023.” Silicon Labs stated that it “has determined that a material weakness in internal control related to the operation and documentation of certain inventory controls existed as of December 30, 2023” and that “[t]he delay in reporting allows additional time to evaluate the impact, if any, of the material weakness on the company’s financial reporting as of the end of the quarterly period.”
On this news, Silicon Labs’ stock price fell $7.91 per share, or 6.02%, to close at $123.55 per share on January 30, 2024.
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 billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
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