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NEW YORK, Feb. 22, 2016 -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Tower Semiconductor Ltd. (NASDAQ:TSEM) between April 30, 2012 and January 13, 2016.
You are hereby notified that a class action lawsuit has been commenced in the USDC for the Central District of California. If you purchased or otherwise acquired Tower Semiconductor between April 30, 2012 and January 13, 2016, your rights may be affected by this action. To get more information go to:
http://zlk.9nl.com/tower-semiconductor
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that, throughout the Class Period, Defendants issued false and misleading statements to investors and/or failed to disclose that: (1) the value of net tangible assets of the acquisition of a fabrication facility from Micron Technology Inc. was artificially inflated; (2) the value of net tangible assets of the acquisition of 51% of TowerJazz Panasonic Semiconductor Co., Ltd. from Panasonic Corporation was artificially inflated; (3) Tower’s Series F Debentures were incorrectly accounted for to understate debt; and (4) as a result, Defendants’ statements about Tower’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you suffered a loss in Tower Semiconductor you have until March 22, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation involving financial fraud, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
