BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of SiTime Corporation (“SiTime” or the “Company”) (NASDAQ: SITM) investors concerning the Company’s possible violations of federal securities laws.
On January 25, 2024, SiTime disclosed that it had “identified a correction required to be made in its historical condensed consolidated statements of cash flows for each of the first three quarters of 2023.” The Company claimed the correction relates to “the misclassification of ‘interest received upon maturity of held-to-maturity securities’ as an investing activity instead of as an operating activity.”
On this news, SiTime’s stock price fell $4.60, or 3.8%, to close at $116.53 per share on January 26, 2024, thereby injuring investors.
If you purchased SiTime 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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