SAN DIEGO & HAMILTON, Bermuda--(BUSINESS WIRE)--Shareholder rights law firm Robbins LLP announces that it is investigating Alpha and Omega Semiconductor Limited (NASDAQ: AOSL) for alleged violations of the Securities Exchange Act of 1934 and whether the Company's officers and directors breached their fiduciary duties to shareholders. Alpha and Omega designs, develops, and supplies power semiconductor products for computing, consumer electronics, communication, and industrial applications worldwide.
If you suffered a loss as a result of Alpha and Omega's misconduct, click here.
Alpha and Omega Semiconductor Limited (AOSL) Reveals DOJ Investigation
In August 2019, Alpha and Omega filed its full year 2019 financial results, assuring that "despite the ongoing challenges of current market conditions… [the Company] is consistently making progress toward [its] calendar 2021 annual revenue target of $600 million." Then, On February 5, 2020, Alpha and Omega revealed that the U.S. Department of Justice "recently commenced an investigation into the Company's compliance with export control regulations with Huawei and its affiliates" and went on to disclose that as a result, the Department of Commerce had requested a suspension of its product shipments to Huawei, which would consequently reduce revenue by approximately $4 million to $5 million in the March quarter. On this news, Alpha and Omega's stock price fell almost 12% to close at $10.85 per share.
Alpha and Omega Semiconductor Limited (AOSL) Shareholders Have Legal Options
Contact us to learn more:
Leo Kandinov
(800) 350-6003
lkandinov@robbinsllp.com
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Robbins LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Click here to receive free alerts from Stock Watch when companies engage in wrongdoing.
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