According to the Complaint, MaxLinear, Inc. is a provider of fabless radio frequency (“RF”), analog, and mixed-signal integrated circuits ("ICs"). Silicon Motion Technology Corporation is likewise a fabless chipmaker which designs, develops, and markets NAND flash controllers for solid-state storage devices.

On May 5, 2022, MaxLinear and Silicon Motion announced the two companies had entered into a merger agreement pursuant to which MaxLinear would acquire Silicon Motion. Thereafter, when asked about the pending Merger, Defendants publicly confirmed the benefits of the Merger while affirming MaxLinear’s intention to close the Merger.

On July 26, 2023, near the close of trading, MaxLinear issued a press release stating it was unilaterally terminating the Merger less than a day after Chinese regulatory authorities had approved the combination.

The Complaint alleges that during the Class Period, Defendants made false and misleading statements and engaged in a scheme to deceive the market and a course of conduct that artificially inflated the price of Silicon Motion ADSs and operated as a fraud or deceit on Class Period purchasers of Silicon Motion ADSs by misrepresenting the value of Silicon Motion’s business and prospects by concealing MaxLinear’s conclusions about the Merger and its decision to terminate the Merger Agreement.

On December 20, 2023, the Court issued an Order appointing Lead Plaintiffs and Counsel. Lead Plaintiffs filed a Consolidated Complaint on February 15, 2024. Defendants filed a Motion to Dismiss the Consolidated Complaint on March 29.

On August 28, 2024, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiff was given leave to amend the Complaint. Lead Plaintiff filed an Amended Consolidated Complaint on September 18. Defendants filed Motions to Dismiss the Amended Consolidated Complaint on November 25.

On July 15, 2025, the Court issued an Order granting Defendants' Motions to Dismiss and dismissed the case with prejudice.