Berger & Montague, P.C. has filed a class action in the U.S.
District Court for the Northern District of California on behalf of
all purchasers of InvenSense, Inc. ("InvenSense" or the "Company")
(NYSE: INVN) common stock between July 29, 2014 and October 28,
2014, inclusive (the "Class Period").
Investors who purchased InvenSense common stock during the Class
Period may move the Court to appoint them as lead plaintiff, no
later than March 9, 2015. A lead plaintiff is a
representative party acting on behalf of other class members in
directing the litigation.
The Complaint alleges that, throughout the Class Period,
defendants made false and/or misleading statements related to the
Company's financial performance and future prospects, specifically
that management failed to disclose the extent to which the
Company's performance and margins were affected by discounts
offered to its major customers, including Samsung and Apple, Inc.
Instead, defendants issued strong guidance throughout the Class
Period. As a result, InvenSense shares traded at inflated prices,
rising as high as $25.85 per share, and allowing Company insiders
to substantially profit through sales of their personally held
On October 28, 2014, InvenSense announced financial
results for the quarter ended September 28, 2014. In particular,
defendants disclosed a significant drop in margins due in large
part to the discounts it offered to its customers as well as
operational inefficiencies related to the iPhone 6 rollout, and a
charge related to old inventory. On this news, the price of
InvenSense shares plummeted more than 25% in a single-day, to close
at $16.08 per share on October 29, 2014.
Investors in InvenSense who wish to discuss this action or the
lead plaintiff selection process may contact Berger & Montague,
P.C., toll free at 1-888-891-2289, or by e-mail at firstname.lastname@example.org.
A copy of the class action complaint can be viewed