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PHILADELPHIA, Aug. 10, 2018 (GLOBE NEWSWIRE) -- Kehoe Law Firm, P.C. announces that it is investigating claims on behalf of Microchip Technology Incorporated (“Microchip Technology” or the “Company”) (NasdaqGS: MCHP). Such investors are encouraged to contact John Kehoe, Esq., email@example.com, firstname.lastname@example.org or call (215) 792-6676, Ext. 801.
The investigation concerns whether Microchip Technology and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On August 9, 2018, the Company reported the results of its operations for the first quarter of fiscal year 2019. According to TheStreet, Inc., on its earnings call, “Microchip partly blamed its [reduced future] guidance on efforts to reduce the excess chip inventory it claims Microsemi shipped to customers -- both distributors and contract manufacturers. Microchip, which unlike Microsemi only recognizes non-GAAP revenue for distributor sales when products are shipped to end-customers, also accused Microsemi of inflating revenue by shifting sales that had involved direct shipments to end-customers to distributors willing to buy a lot of product.”
Following this announcement, the Company’s share price fell sharply in premarket trading on August 10, 2018.
Microchip Technology investors are encouraged to contact John Kehoe, Esq., email@example.com, firstname.lastname@example.org or call (215) 792-6676, Ext. 801, to discuss the investigation and potential legal claims.
Kehoe Law Firm, P.C., with offices in New York and Philadelphia, is a multidisciplinary, plaintiff–side law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Combined, the partners at the Firm have been lead or co-lead counsel in cases that have recovered more than $10 billion dollars on behalf of institutional and individual investors.
CONTACT: John A. Kehoe, Esq., Kehoe Law Firm, P.C.
SOURCE: Kehoe Law Firm, P.C.