NEW YORK, Oct. 03, 2024 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP reminds investors that the firm is investigating potential claims against MaxLinear, Inc. (“MaxLinear” or the “Company”) (NASDAQ: MXL). The ongoing investigation concerns whether MaxLinear and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
[Click here to learn more about the investigation]
On July 24, 2024, MaxLinear issued a press release announcing its second quarter 2024 results, including net revenue for the quarter amounting to just $92 million, down 50% year-over-year. The Company attributed this decline, at least in part, to a prolonged burn-off of excess customer inventory leading to weakened demand. On this news, the price of MaxLinear shares declined by $8.27 per share, or approximately 37.1%, from $22.29 per share on $14.02 to close at $14.01 on July 25, 2024.
If you purchased or otherwise acquired MaxLinear securities, have information, or would like to learn more about this investigation, contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this CONTACT FORM, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
investigations@kmllp.com
