BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Silicon Laboratories Inc. (“Silicon Labs” or the “Company”) (NASDAQ: SLAB) investors concerning the Company’s possible violations of federal securities laws.
On January 29, 2024, Silicon Labs announced that it was postponing its scheduled fourth quarter 2023 earnings call by one week. The Company disclosed that it “determined that a material weakness in internal control related to the operation and documentation of certain inventory controls existed as of December 30, 2023” and that the reporting delay would provide “additional time to evaluate the impact, if any, of the material weakness on the company’s financial reporting as of the end of the quarterly period.”
On this news, Silicon Labs’ stock price fell $7.91, or 6%, to close at $123.55 per share on January 30, 2024, thereby injuring investors.
If you purchased Silicon Labs securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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