Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of all purchasers of the securities of MagnaChip Semiconductor Corporation (“MagnaChip” or the “Company”) (NYSE:MX) between January 30, 2013 and March 11, 2014, inclusive (the “Class Period”).

MagnaChip designs and manufactures analog and mixed-signal semiconductor products for high-volume consumer applications. The Complaint alleges that throughout the Class Period defendants issued materially false and misleading statements concerning MagnaChip’s operations and financial performance. Specifically, defendants misrepresented or failed to disclose that: (1) the Company lacked adequate controls over financial reporting; (2) the Company was improperly recognizing revenues; (3) the Company's prior financial statements required restatement; and (4) as a result, the Company's financial statements were materially false and misleading at all relevant times.

If you are a member of the Class described above, you have until May 5, 2014, to move the Court to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at 215-638-4847, Toll-Free at 888-638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.