NEW YORK, Oct. 19, 2018 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Microchip Technology Inc. (NASDAQ: MCHP) from March 2, 2018 through August 9, 2018, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Microchip investors under the federal securities laws.

To join the Microchip class action, go to https://www.rosenlegal.com/cases-1416.html or call Phillip Kim, Esq. or Zachary Halper, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or zhalper@rosenlegal.com for information on the class action.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.

The lawsuit alleges that on March 1, 2018, Microchip announced that it would acquire Microsemi Corporation (“Microsemi”) for $8.35 billion. During the Class Period Microchip promised investors hundreds of millions of dollars in synergies from this acquisition and the combination of Microchip and Microsemi. However, shortly after on August 9, 2018, Microchip disclosed that Microchip’s due diligence of Microsemi prior to the acquisition was inadequate. On this news, shares of Microchip plummeted $10.67 per share, or over 10.8%, to close at $87.41 per share on August 10, 2018.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 16, 2018. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to https://www.rosenlegal.com/cases-1416.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Zachary Halper, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or zhalper@rosenlegal.com.

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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:
    Laurence Rosen, Esq.
    Phillip Kim, Esq.
    Zachary Halper, Esq.
    The Rosen Law Firm, P.A.
    275 Madison Avenue, 34^th Floor
    New York, NY  10016
    Tel: (212) 686-1060
    Toll Free: (866) 767-3653
    Fax: (212) 202-3827
    lrosen@rosenlegal.com
    pkim@rosenlegal.com
    zhalper@rosenlegal.com
    www.rosenlegal.com