Entwistle & Cappucci LLP Appointed Co-Lead Counsel in Securities Class Action Against MaxLinear, Inc.

January 8, 2024

On December 20, 2023, the United States District Court for the Southern District of California appointed the Atlas Fund, the Westchester Funds, the Alpine Funds and the Kryger Funds as Lead Plaintiffs and Entwistle & Cappucci LLP as Co-Lead Counsel in the securities fraud class action against MaxLinear, Inc.

The action alleges that Defendants made false and misleading statements and omissions of material facts concerning MaxLinear’s ability to timely close a business combination with Silicon Motion Technology Corporation.  When MaxLinear announced it was unilaterally terminating the business combination on July 26, 2023, the price of Silicon Motion’s ADSs declined over $41 per ADS, thereby damaging investors.

The parties have entered into a schedule concerning a consolidated amended complaint and an anticipated motion to dismiss, which is expected to be fully briefed in June 2024.