Robbins Geller Rudman & Dowd LLP Files Class Action Suit against InvenSense, Inc.

Robbins Geller Rudman & Dowd LLP (“Robbins Geller”) (http://www.rgrdlaw.com/cases/invensense/) today announced that a class action has been commenced in the United States District Court for the Northern District of California on behalf of purchasers of InvenSense, Inc. (“InvenSense”) (NYSE:INVN) common stock during the period between July 29, 2014 and October 28, 2014 (the “Class Period”).

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Samuel H. Rudman or David A. Rosenfeld of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at djr@rgrdlaw.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.rgrdlaw.com/cases/invensense/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges InvenSense and certain of its officers and directors with violations of the Securities Exchange Act of 1934. InvenSense designs, develops, markets and sells Micro-Electro-Mechanical Systems sensors, such as accelerometers, gyroscopes and microphones, for use in smartphones and tablets, console and portable video gaming devices, and other types of consumer electronics.

The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company’s financial performance and outlook. Specifically, defendants concealed the adverse effects the Company would experience as a result of its agreement with Apple to supply sensors for the iPhone 6 and iPhone 6 plus at heavily discounted prices. The low prices charged to Apple, along with the low prices charged to one of its other customers, had negatively impacted, and would continue to negatively impact, the Company’s margins. Instead of revealing the Company’s true condition and prospects, defendants concealed these adverse facts from investors and chose to issue strong guidance. As a result of defendants’ false and misleading statements and/or omissions, InvenSense common stock traded at artificially inflated prices during the Class Period, reaching a high of $25.85 per share, allowing certain of the Company’s insiders to sell their personally held stock at artificially inflated prices for aggregate proceeds of over $5.3 million.

Then, on October 28, 2014, InvenSense announced disappointing financial results for the quarter ended September 28, 2014, and revealed a substantial drop-off in margins due in large part to the low prices it had charged its customers, operational inefficiencies with the iPhone 6 rollout, and a charge related to old inventory. The Company’s announcements caused InvenSense shares to plummet more than 25% in one day.

Plaintiff seeks to recover damages on behalf of all purchasers of InvenSense common stock during the Class Period (the “Class”). The plaintiff is represented by Robbins Geller, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Robbins Geller, with 200 lawyers in ten offices, represents U.S. and international institutional investors in contingency-based securities and corporate litigation. The firm has obtained many of the largest securities class action recoveries in history, including the largest securities class action judgment. Please visit http://www.rgrdlaw.com for more information.

Robbins Geller Rudman & Dowd LLPSamuel H. Rudman, 800-449-4900David A. Rosenfelddjr@rgrdlaw.com

Invensense, Inc. (NYSE:INVN)
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