Bronstein, Gewirtz & Grossman, LLC, a renowned national law firm, has announced the filing of a class action lawsuit against MaxLinear, Inc. (NASDAQ: MXL) and certain of its officers. This legal action seeks to recover damages for alleged violations of federal securities laws on behalf of investors who purchased or acquired MaxLinear securities during a specific timeframe. If you're one of these investors, here's what you need to know.

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Class Definition

‍The class action lawsuit aims to represent all persons and entities that purchased or otherwise acquired MaxLinear securities between June 6, 2023, and July 6, 2023, inclusive (referred to as the "Class Period"). Investors falling within this category are encouraged to join the case by visiting the law firm's website at bgandg.com/mxl.

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Case Details

‍The Complaint alleges that there were critical omissions and concealments in the Prospectus and other communications related to a Merger. Specifically, the Complaint contends:

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1. There had been a significant downturn in the semiconductor industry and rising interest rates.
2. MaxLinear had plans to unilaterally terminate the Merger if it gained approval from Chinese regulatory authorities.
3. MaxLinear intended to argue that certain conditions in Article 6 of the Merger Agreement had not been met by May 5, 2023 (prior to the Class Period), as a basis for terminating the Merger.
4. Due to the above factors, the defendants had allegedly misrepresented the viability of the Merger, its purported benefits, and the likelihood of its consummation.

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What's Next?

‍A class action lawsuit has already been filed against MaxLinear, Inc. If you wish to review a copy of the Complaint or consider joining the lawsuit, you can do so by visiting the law firm's website at bgandg.com/mxl. Alternatively, you may contact Peretz Bronstein, Esq. or the Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660 for more information.

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If you suffered a loss in MaxLinear, you have until October 30, 2023, to request that the Court appoint you as a lead plaintiff. It's important to note that your ability to share in any potential recovery does not require you to serve as a lead plaintiff.