LOS ANGELES–(BUSINESS WIRE)–$XLNX—Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of Xilinx Inc. (“Xilinx” or the “Company”) (NASDAQ: XLNX) investors concerning the Company and its officers’ possible violations of federal securities laws.
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On September 19, 2019, post-market, the Company announced that its Chief Financial Officer and Executive Vice President, Lorenzo Flores, was stepping down from his position following the Company’s second quarter fiscal year 2020 earnings release on October 23.
Then, on September 20, 2019, Bank of America downgraded Xilinx to Neutral, citing uncertainties that could limit share upside, increasing competitive pressure in 5G base station silicon, and slower data center ramp.
On this news, the Company’s share price fell $7.07, or roughly 7%, to close at $96.55 per share on September 20, 2019, thereby injuring investors.
If you purchased Xilinx 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 Lesley F. Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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