NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Alpha and Omega Semiconductor Limited (NASDAQ: AOSL) resulting from allegations that AOS may have issued materially misleading business information to the investing public.
On February 5, 2020, post-market, AOS issued a press release announcing, among other things, that the U.S. Department of Justice “recently commenced an investigation into the Company’s compliance with export control regulations relating to certain business transactions with Huawei and its affiliates (“Huawei”), which were added to the “Entity List” by the Department of Commerce (“DOC”).” Further, “[i]n connection with this investigation, DOC has requested the Company to suspend shipments of its products to Huawei . . . Accordingly, we expect the financial performance in the March quarter will be negatively impacted by the Huawei shipment interruption and by additional professional fees incurred in connection with the investigation.”
On this news, AOS’s stock price fell $1.80 per share over the next two trading days, or almost 15%, to close at $10.53 per share on February 7, 2020.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by AOS investors. If you purchased shares of AOS please visit the firm’s website at http://www.rosenlegal.com/cases-register-1786.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or cases@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. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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