Glancy Binkow & Goldberg LLP announces that it is investigating potential claims on behalf of investors of InvenSense, Inc. (“InvenSense” or the “Company”) (NYSE:INVN) concerning possible violations of federal securities laws. The investigation is focused on certain statements issued by InvenSense concerning the Company’s business and financial prospects.

Please contact Lesley Portnoy at (888) 773-9224 or (310) 201-9150, or at shareholders@glancylaw.com to discuss this matter. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

InvenSense designs, develops and markets micro-electro-mechanical system gyroscopes for motion tracking devices in consumer electronics. The investigation is related to the Company’s October 28, 2014, announcement of financial results for the second quarter of fiscal year 2015 that missed analysts’ expectations.

Among other things, the Company reported a 13-percentage points sequential decrease in non-GAAP gross margin for the second quarter as a result of inventory write-downs of older inventory and the impact of large OEM customer discounts. According to the Company, the decrease in gross margin was primarily attributable to “a non-recurring inventory charge largely related to earlier generations of the Company’s products that reduced the gross margin by approximately eight percentage points, and a shift in revenue mix towards lower margin, high volume customers that reduced the gross margin by approximately five percentage points.” Following this news, InvenSense shares declined more than 25%, or $5.40 per share, to a closing price of $16.08 per share on October 29, 2014, on unusually heavy volume.

If you purchased InvenSense shares, if you 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 Lesley Portnoy, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at (310) 201-9150, Toll Free at (888) 773-9224, by e-mail to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Glancy Binkow & Goldberg LLP, Los Angeles, CALesley Portnoy(310) 201-9150(888) 773-9224shareholders@glancylaw.comwww.glancylaw.com

Invensense, Inc. (NYSE:INVN)
Historical Stock Chart
From Jul 2024 to Aug 2024 Click Here for more Invensense, Inc. Charts.
Invensense, Inc. (NYSE:INVN)
Historical Stock Chart
From Aug 2023 to Aug 2024 Click Here for more Invensense, Inc. Charts.