MaxLinear, Inc. (NASDAQ: MXL)

This investigation is for anyone who acquired securities in MaxLinear, Inc. (NASDAQ: MXL) from February 1, 2023 through July 24, 2024.

The Law Offices of Howard G. Smith believes that the Company and certain of its executives violated federal law. Specifically, the Law Offices of Howard G. Smith believes that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the Law Offices of Howard G. Smith believes that the Company misled investors by stuffing the Company’s channels of distribution for the purpose of artificially inflating the Company’s revenue.

On July 26, 2023, MaxLinear announced its second quarter 2023 financial results, disclosing net revenue of $183.9 million, which was down 34% year-over-year. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on October 25, 2023, MaxLinear announced its third quarter 2023 financial results, disclosing net revenue of $135.5 million, which was down 53% year-over-year. The company also provided disappointing revenue guidance for the fourth quarter of $115 million to $135 million. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume. Finally, on July 24, 2024, MaxLinear released its second quarter 2024 financial results, disclosing that net revenue for the quarter was just $92 million, down 50% year-over-year, due to prolonged burn-off of excess customer inventory leading to weakened demand. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in MaxLinear, Inc. (NASDAQ: MXL) from February 1, 2023 through July 24, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.