San Diego, CA -- (SBWIRE) -- 12/15/2016 -- A deadline is coming up on December 21, 2016 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Magnachip Semiconductor Corporation (NYSE:MX) between February 1, 2012 and February 12, 2015.

Investors who purchased a significant amount of shares of Magnachip Semiconductor Corporation (NYSE:MX) between February 1, 2012 and February 12, 2015, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call 858-779-1554.

The settlement proof of claim form or detailed settlement notice for the settlement in the Magnachip Semiconductor Corporation (NYSE:MX) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/magnachip-semiconductor-corporation-nyse-mx-investor-securities-class-action-lawsuit-03122014

In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is December 21, 2016. The class action administrator for this case is Strategic Claims Services.

The lawsuit was originally filed in the U.S. District Court for the Northern District of California against MagnaChip Semiconductor Corporation over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between January 30, 2013 and March 11, 2014. According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired securities of MagnaChip Semiconductor Corporation (NYSE:MX) between January 30, 2013 and March 11, 2014, that MagnaChip Semiconductor Corporation and certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. More specifically, the plaintiff claims that defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that MagnaChip Semiconductor Corporation lacked adequate controls over financial reporting, that MagnaChip Semiconductor Corporation was improperly recognizing revenues, that MagnaChip Semiconductor Corporation's prior financial statements required restatement, and that as a result of the foregoing, MagnaChip Semiconductor Corporation's financial statements were materially false and misleading at all relevant times.

Those who purchased shares of Magnachip Semiconductor Corporation have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com