SOURCE: Saxena White P.A.

January 20, 2015 09:14 ET

Saxena White P.A. Files Securities Fraud Class Action Against InvenSense, Inc.

BOCA RATON, FL--(Marketwired - Jan 20, 2015) - Saxena White P.A. has filed a securities fraud class action lawsuit in the United States District Court for the Northern District of California against InvenSense, Inc. ("InvenSense" or the "Company") (NYSE: INVN) on behalf of investors who purchased or otherwise acquired the common stock of the Company during the period from July 29, 2014 through October 28, 2014 (the "Class Period).

InvenSense is an international semiconductor company. Specifically, the Company designs and manufactures devices which are used to track motion (gyroscopes, accelerometers, and compasses) and sense audio (microphones). InvenSense offers these devices for a variety of applications including cellular phones, tablet computers, video game controllers, and portable navigation devices.

The Complaint brings forth claims for violations of the Securities Exchange Act of 1934. The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (i) the well below average pricing arrangements entered into by the Company and its customers, namely Samsung and Apple; (ii) problems with manufacturing; and (iii) surplus inventory; and (iv) that, as a result of the foregoing, Defendants' statements were materially false and misleading at all relevant times.

You may obtain a copy of the Complaint and join the class action at www.saxenawhite.com.

If you purchased InvenSense stock between July 29, 2014 and October 28, 2014, inclusive, you may contact Lester Hooker (lhooker@saxenawhite.com) at Saxena White P.A. to discuss your rights and interests.

If you purchased InvenSense common stock during the Class Period of July 29, 2014 through October 28, 2014, and wish to apply to be the lead plaintiff in this action, a motion on your behalf must be filed with the Court no later than March 9, 2015. You may contact Saxena White P.A. to discuss your rights regarding the appointment of lead plaintiff and your interest in the class action. Please note that you may also retain counsel of your choice and need not take any action at this time to be a class member.

Saxena White P.A., located in Boca Raton, specializes in prosecuting securities fraud and complex class actions on behalf of institutions and individuals. Currently serving as lead counsel in numerous securities fraud class actions nationwide, the firm has recovered hundreds of millions of dollars on behalf of injured investors and is active in major litigation pending in federal and state courts throughout the United States.

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