|[July 23, 2014]
XILINX INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates Xilinx Inc. Following Disclosure of Disappointing Results and Analysts Downgrades
NEW ORLEANS --(Business Wire)--
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a
partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces
that KSF has commenced an investigation into Xilinx (News - Alert) Inc. (NMS: XLNX).
On July 22, 2014, Xilinx reported lower than expected first quarter
fiscal 2015 revenue, reporting sales of only $613 million, below
analysts' estimates of $631 million. The Company also forecast that its
sales could drop as much as 4% in the second quarter. These results
contradict what Company representatives stated in presentations in May
2014. For example, on May 6, 2014, CFO Jon Olson made a presentation at
the Robert W. Baird & Co. Inc. Growth Stock Conference, stating that,
"we do see growth in the 8% to 12% topline growth range over the next
couple of years." On May 20, 2014, Olson made a presentation at the
JPMorgan Global Technology (News - Alert), Media and Telecom Conference, stating that,
"we are expecting rowth in comms overall, but we also are expecting
very strong growth out of industrial, scientific, medical, and aerospace
and defense, as well as automotive next year" and that "[w]e would
expect all geographies for us to grow year on year."
On this news, Xilinx was downgraded by multiple analysts and the price
of its shares plummeted by over 14%.
KSF's investigation is focusing on whether Xilinx and/or its officers
and directors violated state or federal securities laws.
If you have information that would assist KSF in its investigation, or
would like to discuss your legal rights, you may, without obligation or
cost to you, e-mail or call KSF Managing Partner Lewis Kahn (firstname.lastname@example.org)
or KSF Partner Melinda Nicholson (email@example.com)
toll free at 1-877-515-1850.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General
Charles C. Foti, Jr., is a law firm focused on securities class action
and shareholder derivative litigation with offices in New York,
California and Louisiana. KSF's lawyers have significant experience
litigating complex securities class actions nationwide on behalf of both
institutional and individual shareholders.
To learn more about KSF, you may visit www.ksfcounsel.com.
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