LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Eastern District of Texas on behalf of a class (the “Class”) comprising all purchasers of the common stock of Diodes, Inc. (“Diodes”) (NASDAQ:DIOD) between February 9, 2011 and June 9, 2011, inclusive (the “Class Period”). The Complaint alleges that throughout the Class Period the Company and certain of its executive officers issued materially false and misleading statements regarding the Company’s business and financial prospects.
Diodes, together with its subsidiaries, designs, manufactures and supplies application-specific standard products in the discrete, logic and analog semiconductor markets primarily in Asia, North America and Europe. The Complaint alleges that throughout the Class Period the defendants misrepresented and/or failed to disclose that: (1) the Company’s labor problems associated with its backend facility in China were much more severe and prolonged than publicly represented; (2) the Company’s gross margins were being impacted by higher than expected wages and labor shortages; (3) the Company was experiencing decreasing demand for its products, especially from its LED TV and notebook customers; and (4) as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its prospects.
If you are a member of the Class described above, you may move the Court, no later than May 14, 2013 to serve as lead plaintiff; however, you must meet certain legal requirements. If you wish to learn more about this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224, by e-mail to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com.
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