A lawsuit was filed on behalf of investors in InvenSense Inc (NYSE:INVN) shares over alleged securities laws violations. Deadline: March 10, 2015. NYSE:INVN investors should contact the Shareholders Foundation.

San Diego, CA -- (SBWire) -- 01/20/2015 --An investor, who purchased shares of InvenSense Inc (NYSE:INVN), filed a lawsuit in the U.S. District Court for the Northern District of California over alleged violations of Federal Securities Laws by InvenSense Inc in connection with certain allegedly false and misleading statements made between July 29, 2014 and October 28, 2014.

Investors who purchased shares of InvenSense Inc (NYSE:INVN) have certain options and for certain investors are short and strict deadlines running. Deadline: March 10, 2015. NYSE:INVN investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of purchasers of InvenSense Inc (NYSE:INVN) common shares between July 29, 2014 and October 28, 2014, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between July 29, 2014 and October 28, 2014 defendants allegedly concealed the adverse effects InvenSense Inc would experience as a result of its agreement with Apple to supply sensors for the iPhone 6 and iPhone 6 plus at heavily discounted prices, that the low prices charged to Apple, along with the low prices charged to one of its other customers, had negatively impacted, and would continue to negatively impact, InvenSense Inc's margins and that instead of revealing InvenSense Inc's true condition and prospects, defendants allegedly concealed these adverse facts from investors and chose to issue strong guidance.

The plaintiff alleges that as a result of defendants' false and misleading statements and/or omissions, InvenSense Inc common stock traded at artificially inflated prices between July 29, 2014 and October 28, 2014, reaching a high of $25.85 per share, allowing certain of InvenSense Inc's insiders to sell their personally held stock at artificially inflated prices for aggregate proceeds of over $5.3 million.

On May 1, 2014, InvenSense Inc announced its fourth quarter and fiscal year 2014 results. InvenSense Inc reported that its Total Revenue rose from $208.63 million for the 52 weeks period that ended on March 31, 2013 to $252.53 million for the 52 weeks period that ended on March 30, 2014, whiles its respective Net Income declined from $51.70 million to $6.12 million.

On July 29, 2014, InvenSense Inc announced its first quarter fiscal year 2015 results. InvenSense Inc reported that its first quarter Revenue rose from $55.91 million for the three months period that ended on June 30, 2013 to $66.68 million for the three months period that ended on June 29, 2014.

Shares of InvenSense Inc (NYSE:INVN) grew from $17.44 per share on May 16, 2014 to as high as $25.85 per share on August 29, 2014.

On October 28, 2014, InvenSense Inc announced its second quarter fiscal year 2015 results.

The plaintiff alleges that InvenSense Inc revealed a substantial drop-off in margins due in large part to the low prices it had charged its customers, operational inefficiencies with the iPhone 6 rollout, and a charge related to old inventory and that the Company's announcements caused InvenSense Inc (NYSE:INVN) shares to plummet more than 25% in one day. Shares of InvenSense Inc (NYSE:INVN) declined from over $25 per share in October 2014 to as low as $13.84 per share in November 2014.

On January 16, 2015, NYSE:INVN shares closed at $14.02 per share.

Those who purchased shares of InvenSense Inc (NYSE:INVN) 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