The Law Offices of Frank R. Cruz announces an investigation of SiTime Corporation (“SiTime” or the “Company”) (NASDAQ: SITM) on behalf of investors concerning the Company’s possible violations of federal securities laws.
If you are a shareholder who suffered a loss, click here to participate.
On January 25, 2024, SiTime disclosed that it had “identified a correction required to be made in its historical condensed consolidated statements of cash flows for each of the first three quarters of 2023.” The Company claimed the correction relates to “the misclassification of ‘interest received upon maturity of held-to-maturity securities’ as an investing activity instead of as an operating activity.”
On this news, SiTime’s stock price fell $4.60, or 3.8%, to close at $116.53 per share on January 26, 2024, thereby injuring investors.
Follow us for updates on Twitter: twitter.com/FRC_LAW.
If you purchased SiTime securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240131719590/en/