MaxLinear, Inc.
Case Overview
Status: | Status: Investigating |
Company Name: | Company Name: MaxLinear, Inc. |
Ticker: | Ticker: MXL |
Related Attorneys: | Lead Attorneys: Thomas W. Elrod |
Related Practices: | Related Practices: Securities |
The law firm of Kirby McInerney LLP is investigating potential claims against MaxLinear, Inc. (“MaxLinear” or the “Company”) (NASDAQ: MXL). The investigation concerns whether MaxLinear and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
On July 24, 2024, MaxLinear issued a press release announcing its second quarter 2024 results, including net revenue for the quarter amounting to just $92 million, down 50% year-over-year. The Company attributed this decline, at least in part, to a prolonged burn-off of excess customer inventory leading to weakened demand. On this news, the price of MaxLinear shares declined by $8.27 per share, or approximately 37.1%, from $22.29 per share on $14.02 to close at $14.01 on July 25, 2024.
On July 24, 2024, MaxLinear issued a press release announcing its second quarter 2024 results, including net revenue for the quarter amounting to just $92 million, down 50% year-over-year. The Company attributed this decline, at least in part, to a prolonged burn-off of excess customer inventory leading to weakened demand. On this news, the price of MaxLinear shares declined by $8.27 per share, or approximately 37.1%, from $22.29 per share on $14.02 to close at $14.01 on July 25, 2024.