Pomerantz LLP is investigating claims on behalf of investors of MaxLinear, Inc. ("MaxLinear" or the "Company") MXL. Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether MaxLinear and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
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, MaxLinear's stock price fell $8.27 per share, or 37.1%, to close at $14.02 per share on July 25, 2024.
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