STEVENSON, Md., March 29, 2013 (GLOBE NEWSWIRE) -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Texas on behalf of purchasers of Diodes, Inc. ("Diodes" or the "Company") (Nasdaq:DIOD) common stock during the period between February 9, 2011 and June 9, 2011, inclusive (the "Class Period").
If you have suffered a net loss from investment in Diodes, Inc. common stock purchased on or after February 9, 2011, and held through June 9, 2011, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at firstname.lastname@example.org, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than May 14, 2013 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants' failure to disclose during the Class Period that the Company's labor problems associated with its backend facility in China were more severe and prolonged than publicly represented, that the Company's gross margins were being impacted by higher than expected wages and labor shortages, and that the Company was experiencing decreasing demand for its products, particularly from its LED TV and notebook customers. According to the Complaint, following the Company's June 9, 2011 disclosure that it was lowering its gross margin guidance because of the softening demand and a slower than expected recovery from manpower shortages at the Company's packaging facilities, the value of Diodes shares declined significantly.
If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
CONTACT: Charles J. Piven
Brower Piven, A Professional Corporation
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