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Glancy Prongay & Murray LLP Announces Investigation on Behalf of Microchip Technology Incorporated InvestorsGlancy Prongay & Murray LLP ("GPM") is investigating potential claims against the board of directors of Microchip Technology (News - Alert) Incorporated ("Microchip" or the "Company") (NASDAQ: MCHP), concerning whether the board breached its fiduciary duties to shareholders. On ay 31, 2018, Microchip promised investors hundreds of millions of dollars in synergies following its acquisition of Microsemi (News - Alert) Corporation ("Microsemi"). However, just months later, on August 9, 2018, Microchip disclosed that the Company's financial performance was adversely impacted by the acquisition of Microsemi, which "was extremely aggressive in shipping inventory into the distribution channel." Our investigation concerns whether the Company's board of directors breached its fiduciary duties to shareholders and/or grossly mismanaged the Company in connection with the foregoing acquisition and accounting issues. If you own Microchip shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact Benjamin I. Sachs-Michaels, Esquire, of GPM, 712 Fifth Avenue, 31st Floor, New York, New York 10019 at (212) 935-7400 or by email to [email protected]. If you inquire by email please include your mailing address, telephone number and number of shares purchased. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. View source version on businesswire.com: https://www.businesswire.com/news/home/20191016005869/en/ |
