NEW YORK, March 14, 2014 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased MagnaChip Semiconductor Corporation ("MagnaChip" or the "Company") (NYSE:MX) common stock between January 30, 2013 and March 11, 2014.
For more information, click here: http://zlk.9nl.com/magnachip-semiconductor.
On January 27, 2014, MagnaChip announced the postponement of its fourth quarter 2013 earnings release and investor conference call, citing the need for additional time to review its financial results for the fourth quarter and full year 2013. Then on March 11, 2014, MagnaChip announced that its Audit Committee had determined that the Company had incorrectly recognized revenue related to certain transactions. As a result of these errors, MagnaChip announced that its financial statements for the fiscal years ended December 31, 2012 and December 31, 2011, and the quarters ended March 31, June 30, and September 30 for the years 2012 and 2013 should no longer be relied upon.
If you suffered a loss in MagnaChip you have until May 12, 2014 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/magnachip-semiconductor.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.comSource:Levi & Korsinsky, LLP