Wolf Haldenstein Adler Freeman & Herz LLP Announces the Filing of a Securities Class Action against MagnaChip Semiconductor Corporation

Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of purchasers of common stock of MagnaChip Semiconductor Corporation ("MagnaChip" or the "Company") (NYSE:MX) between January 30, 2013 and March 11, 2014, inclusive (the "Class Period").

On January 27, 2014, MagnaChip announced that it would postpone its fourth quarter 2013 earnings release to provide additional time for MagnaChip to complete a review of its financial results. As a result of this news, MagnaChip stock dropped 13% down to $15.27 per share on January 28, 2014. Then, on March 11, 2014, MagnaChip disclosed that its Audit Committee had found material weaknesses in internal controls over financial reporting and other accounting improprieties relating to MagnaChip's recognition of revenue on sales to distributors. As a result, the Company stated that it would be required to restate its financial results for 2011, 2012 and 2013. As a result of this news, MagnaChip's stock dropped another 13% down to $12.50 per share.

Wolf Haldenstein has represented individual and institutional investors for many years, serving as lead counsel in numerous cases in United States federal and state courts. Please visit the Wolf Haldenstein website (http://www.whafh.com) for more information about the firm.

If you are a member of the Class described above, you may move the Court no later than May 5, 2014, to serve as lead plaintiff, if you meet certain legal requirements. If you are a shareholder of MagnaChip Semiconductor Corporation who suffered a material loss on your shares and would like additional information concerning your rights in this matter, please contact us immediately:

Patrick Donovan, Esquire
or
Gregory Stone, Director of Case and Financial Analysis
Wolf Haldenstein Adler Freeman & Herz LLP
270 Madison Avenue
New York, New York 10016

Phone Numbers:
(800) 575-0735
(212) 545-4600
(212) 545-4774

Email:

Classmember@whafh.com, Donovan@whafh.com or gstone@whafh.com and please reference “MagnaChip investigation.”

Wolf Haldenstein Adler Freeman & Herz LLP did not file the original complaint against MagnaChip Semiconductor Corporation.

Attorney Advertising. Prior results do not guarantee or predict a similar outcome