NEW YORK, Oct. 10, 2019 /PRNewswire/ — Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) has been investigating claims on behalf of investors who purchased shares of Monolithic Power Systems, Inc. (“Monolithic” or the “Company”) (Nasdaq: MPWR).
On October 9, 2019, Spruce Point Capital Management issued a report titled “Powering Down Fab-U-Less Earning.”
A summary of the report stated, in part, the following: “Spruce Point has significant concerns about Monolithic Power Systems (Nasdaq: MPWR), a designer and manufacturer of power management solutions. Despite being headquartered and publicly listed in the U.S., MPWR operates largely as a foreign company with ~90% of its production, and 58% of sales reported in China. After a close on-the-ground and forensic financial investigation, Spruce Point finds evidence that suggests $245 – $265m (~40%) of its sales are irreconcilable. With MPWR’s shares valued among the highest in the semiconductor space, and fundamental and accounting pressures mounting, we see the potential for 75% – 85% downside risk ($21 – $35 per share).”
On October 9, 2019, Monolithic shares declined from a closing price on October 8, 2019 of $141.81 per share, to close at $135.15 per share, a decline of approximately 5% on heavier than average trading volume.
If you purchased Monolithic shares, and would like to discuss our investigation, please contact us by emailing jcampisi@kaplanfox.com or by calling 800-290-1952.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has decades of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about your rights or interests, please contact:
Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: jcampisi@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California 94104
(415) 772-4700
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
SOURCE Kaplan Fox & Kilsheimer LLP
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