Energy News / Shareholders Foundation, Inc.

Deadline Upcoming in $6.2 Million Settlement in the Magnachip Semiconductor Corporation (NYSE:MX) Investor Lawsuit

Via: ReleaseWire

Updated 11:30 AM CDT, Wed, May 23,2018

A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Magnachip Semiconductor Corporation (NYSE: MX) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on June 9, 2018 and NYSE: MX investors should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 05/23/2018 -- A deadline is coming up on June 9, 2018 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Magnachip Semiconductor Corporation (NYSE: MX) between February 1, 2012 and March 11, 2014.

Investors who purchased a significant amount of shares of Magnachip Semiconductor Corporation (NYSE: MX) between February 1, 2012 and March 11, 2014, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The settlement proof of claim form or detailed settlement notice for the settlement in the Magnachip Semiconductor Corporation (NYSE: MX) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/magnachip-semiconductor-corporation-nyse-mx-investor-securities-class-action-lawsuit-03122014

In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is June 9, 2018. The class action administrator for this case is Strategic Claims Services.

The lawsuit was originally filed in the U.S. District Court for the Eastern District of New York over alleged violations of Federal Securities Laws by Henry Schein, Inc. in connection with certain allegedly false and misleading statements made between March 7, 2013 and February 12, 2018.

Melville, NY based Henry Schein, Inc. is a provider of healthcare products and services primarily to office-based dental, animal health and medical practitioners. Henry Schein, Inc. Reported that ist Total Revenue rose from over $10.62 billion in 2015 to over $11.57 billion in2016 and its Net Income increased from $479.06 million in 2015 to $506.78 million in 2016.

On February 12, 2018, it was reported that the Federal Trade Commission (FTC) has filed a complaint against the three largest U.S. dental supply companies in the country, including Henry Schein, Inc. The complaint alleges that the companies conspired to prevent dental groups from buying their products in bulk at a discount.

Shares of Henry Schein, Inc. (NASDAQ:HSIC) declined on February 12, 2018 to as low as $63.01 per share.

According to the complaint the plaintiff alleges on behalf of purchasers of Henry Schein, Inc. (NASDAQ:HSIC) common shares between March 7, 2013 and February 12, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 7, 2013 and February 12, 2018, the defendants made false and/or misleading statements and/or failed to disclose that Henry Schein was engaging in unethical, anti-competitive behavior through agreements with Benco Dental Supply Company and Patterson Companies, Inc., in violation of United States antitrust laws, that Henry Schein engaged in such behavior, in part, to help maintain profitability in a consolidating health care industry, that these violations of U.S. antitrust laws would result in heightened scrutiny by the federal government and a lawsuit filed by the Federal Trade Commission ("FTC"), that Henry Schein failed to maintain adequate internal controls, and that a result, defendants' statements about Henry Schein's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of Magnachip Semiconductor Corporation (NYSE: MX) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.sbwire.com/press-releases/deadline-upcoming-in-62-million-settlement-in-the-magnachip-semiconductor-corporation-nysemx-investor-lawsuit-982423.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com