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TMCNet:  MAGNACHIP SEMICONDUCTOR SHAREHOLDERS: Johnson & Weaver, LLP Announces Investigation of MagnaChip Semiconductor Corporation

[March 12, 2014]

MAGNACHIP SEMICONDUCTOR SHAREHOLDERS: Johnson & Weaver, LLP Announces Investigation of MagnaChip Semiconductor Corporation

SAN DIEGO --(Business Wire)--

Shareholder rights law firm Johnson & Weaver, LLP is investigating whether certain officers and directors of MagnaChip Semiconductor Corporation (NYSE: MX) violated state or federal laws in connection with statements issued regarding MagnaChip's business, operations and financial prospects.

On January 27, 2014, MagnaChip announced a delay in fourth quarter 2013 earnings and investor conference call in order to provide additional time for the Company to complete its review of financial results. Then on March 11, 2014, it was made known that MagnaChip had incorrectly recognized revenue on certain transactions and consequently would need to restate its financial statements as ar back as December 31, 2011. Since the January announcement, shares of MagnaChip have fallen more than 28% as of mid-morning on March 11, 2014.


If you have information that could assist in this investigation, or if you are a MagnaChip shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (jimb@johnsonandweaver.com) by email or by phone at 619-230-0063, Ext. 118. If you email, please include your phone number.

Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California and New York. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.


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