On June 9, 2011, Diodes updated its financial guidance for the second quarter of 2011. For the second quarter, the Company maintained its revenue guidance of $170 to $178 million, but lowered its gross margin guidance to 32.5% plus or minus 1.5% as compared to its previous guidance of 36.5% plus or minus 1%. Defendants explained that the Company’s gross margin was “being impacted by a mix shift due to a softening of demand and the slower than expected recovery from the previously disclosed manpower shortages at the Company’s packaging facilities.” In reaction to the announcement, the price of Diodes stock fell $4.38 per share over the next two trading days, or just over 16%, to close at $22.98 per share, on heavy trading volume.On August 9, 2011, Diodes announced its financial results for the second quarter of 2011, the period ended June 30, 2011. For the quarter, the Company reported revenue of $169.8 million – below the Company’s guidance – and gross profit margin of 32.8% – at the low end of the Company’s guidance. Plaintiff seeks to recover damages on behalf of all purchasers of Diodes common stock during the Class Period (the “Class”). The plaintiff is represented by Robbins Geller, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud. Robbins Geller represents U.S. and international institutional investors in contingency-based securities and corporate litigation. With nearly 200 lawyers in nine offices, the firm represents hundreds of public and multi-employer pension funds with combined assets under management in excess of $2 trillion. The firm has obtained many of the largest recoveries and has been ranked number one in the number of shareholder class action recoveries in MSCI’s Top SCAS 50 every year since 2003. According to Cornerstone Research, the firm’s recoveries have averaged 35% above the median for all firms over the past seven years (2005-2011). Please visit http://www.rgrdlaw.com for more information.