NEW YORK, Feb. 01, 2016 (GLOBE NEWSWIRE) -- The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the Central District of California on behalf of investors who purchased Tower Semiconductor Ltd. (NASDAQ:TSEM) securities between April 30, 2012 and January 13, 2016.
Click here to learn about the case: http://docs.wongesq.com/TSEM-Info-Request-Form-1085. There is no cost or obligation to you.
The complaint alleges that, throughout the Class Period, Defendants issued false and misleading statements to investors and/or failed to disclose that: (1) the value of net tangible assets of the acquisition of a fabrication facility from Micron Technology Inc. was artificially inflated; (2) the value of net tangible assets of the acquisition of 51% of TowerJazz Panasonic Semiconductor Co., Ltd. from Panasonic Corporation was artificially inflated; (3) Tower’s Series F Debentures were incorrectly accounted for to understate debt; and (4) as a result, Defendants’ statements about Tower’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you suffered a loss in Tower you have until March 22, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. To obtain additional information, contact Vincent Wong, Esq. either via email vw@wongesq.com, by telephone at 212.425.1140, or visit http://docs.wongesq.com/TSEM-Info-Request-Form-1085.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.