An investigation for investors in Xilinx, Inc. (NASDAQ: XLNX) shares over potential securities laws violations by Xilinx, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 10/16/2019 -- An investigation was announced concerning possible violations of securities laws by Xilinx, Inc. in connection with certain financial statements.
Investors who purchased shares of Xilinx, Inc. (NASDAQ: XLNX), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Xilinx, Inc. (NASDAQ: XLNX regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
San Jose, CA based Xilinx, Inc. designs and develops programmable devices and associated technologies worldwide. Xilinx, Inc reported that its Total Revenue rose from over $2.46 billion for the 12 months period that ended on March 31, 2018 to over $3.05 billion for the 12 months period that ended on March 31, 2019, and that its Net Income increased from $463.98 million to $889.75 million over those respective time periods.
On September 19, 2019, Xilinx, Inc announced that Lorenzo Flores, the Company's Chief Financial Officer and Executive Vice President, was "stepping down from his position to pursue another executive opportunity . . . following the company's second quarter fiscal year 2020 earnings on October 23." The next day, on September 20, 2019, Bank of America downgraded Xilinx to Neutral, citing uncertainties that could limit share upside, increasing competitive pressure in 5G base station silicon, and slower data center ramp.
Shares of Xilinx, Inc. (NASDAQ: XLNX) declined from $137.23 per share on April 15, 2019 to as low as $90.47 per share on October 2, 2019.
Those who purchased shares of Xilinx, Inc. (NASDAQ: XLNX) have certain options and should contact the Shareholders Foundation.
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