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SHANGHAI, China, Feb. 7, 2014 (GLOBE NEWSWIRE) -- Montage Technology Group Limited (Nasdaq:MONT) ("Montage"), a global fabless provider of analog and mixed-signal semiconductor solutions addressing the home entertainment and cloud computing markets, today issued a statement in response to allegations raised in a research report dated February 6, 2014 issued by a group called Gravity Research.
The company believes that the allegations and accusations in the report lack merit and contain numerous errors of fact, misleading speculation and misinterpretation of events. Montage fully stands behind the integrity of its audited financial statements, which have been audited by its independent accountants, PricewaterhouseCoopers Zhong Tian LLP. Montage also disclaims any suggestion that LQW Technology Company, an independent distributor of semiconductor products to the end customers of Montage and other technology companies, is an affiliate of Montage. Montage plans to release additional information refuting the allegations made by Gravity Research in due course. Montage is committed to providing full and accurate disclosure to investors and to preserving confidence in Montage's business, management, financial performance, operations and corporate structure.
Forward Looking Statements
This press release contains "forward-looking" statements about the Company's plans, expectations and beliefs. These forward-looking statements can be identified by terminology such as "will", "should", "expects", "anticipates", "future", "intends", "plans", "projects", "predicts", "believes", "estimates", "forecasts", "may" and similar statements which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may differ materially from actual results due to a variety of factors including other potential risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed under the caption "Risk Factors" in our most recent quarterly report on Form 10-Q and other filings with the U.S. Securities and Exchange Commission. Any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. We undertake no obligation to update these statements as a result of new information or future events, except as may be required by law.