We are investigating Cypress Semiconductor Corporation (CY) (“Cypress” or the “Company”) for potential violations of the federal securities laws.
On March 3, 2020, the Food and Drug Administration (“FDA”) issued a news release “informing patients, health care providers and manufacturers about a set of cybersecurity vulnerabilities, referred to as ‘SweynTooth,’ that—if exploited—may introduce risks for certain medical devices.” The FDA named Cypress as one “of several manufacturers that are affected by these vulnerabilities.” On this news, Cypress’s stock price fell sharply over the following trading sessions.