Alpha and Omega Semiconductor Limited (NASDAQ: AOSL) Investor Securities Class Action Lawsuit 03/19/2020

If you purchased a significant amount of shares of Alpha and Omega Semiconductor Limited (NASDAQ: AOSL) between August 7, 2019 and February 5, 2020, and / or if you purchased any NASDAQ: AOSL shares prior to August 2019 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: May 18, 2020. NASDAQ: AOSL investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Alpha and Omega Semiconductor
Case Name: 
Alpha and Omega Semiconductor Shareholder
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: AOSL
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
03/19/2020
Class Period Begin: 
08/07/2019
Class Period End: 
02/05/2020
Court of Filing: 
U.S. District Court for the Southern District of New York
Deadline To File for Lead: 
05/18/2020
Summary: 

An investor in shares of Alpha and Omega Semiconductor Limited (NASDAQ: AOSL) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Alpha and Omega Semiconductor Limited in connection with certain allegedly false and misleading statements made between August 7, 2019 and February 5, 2020.

Sunnyvale, CA based Alpha and Omega Semiconductor Limited designs, develops, and supplies power semiconductor products for computing, consumer electronics, communication, and industrial applications worldwide. Alpha and Omega Semiconductor Limited reported that its Total Revenue rose from $421.55 million for the 12 months period that ended on June 30, 2018, to $450.92 million for the 12 months period that ended on June 30, 2019, and that its Net Income over those time periods declined from $14.26 million to $1.86 million.

On February 5, 2020, post-market, Alpha and Omega Semiconductor Limited announced its financial results for the second fiscal quarter of 2020. Alpha and Omega Semiconductor Limited also disclosed that the U.S. Department of Justice "recently commenced an investigation into the Company's compliance with export control regulations relating to certain business transactions with Huawei and its affiliates ('Huawei')" and that "[i]n connection with this investigation, [the Department of Commerce] has requested the Company to suspend shipments of its products to Huawei . . . . Accordingly, we expect the financial performance in the March quarter will be negatively impacted by the Huawei shipment interruption and by additional professional fees incurred in connection with the investigation."

Shares of Alpha and Omega Semiconductor Limited (NASDAQ: AOSL) declined from $23.00 per share on January 8, 2017, to as low as $7.68 per share on March 13, 2020.

According to the complaint the plaintiff alleges on behalf of purchasers of Alpha and Omega Semiconductor Limited (NASDAQ: AOSL) common shares between August 7, 2019 and February 5, 2020, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between August 7, 2019 and February 5, 2020, the Defendants failed to disclose to investors that the Company’s export control practices were in violation of applicable laws and regulations, that, as a result, the Company was vulnerable to regulatory scrutiny and liability, and that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.