Magnachip Semiconductor Corporation Information Request Form

Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Magnachip Semiconductor Corporation (“Magnachip” or the “Company”) (NYSE: MX) to investment vehicles established by Wise Road Capital LTD and certain of its limited partners (“Wise Road”). Under the terms of the merger agreement, Magnachip shareholders will receive $29.00 in cash per share they own.

The Magnachip merger investigation concerns whether the Board of Magnachip has breached its fiduciary duties in connection with the deal. In particular, on June 11, 2021, Magnachip announced that it had received an unsolicited proposal from Cornucopia Investment Partners on behalf of itself and a group of investors, including financial sponsors led by Mr. Tim Crown, Yango financial holdings, Sino-Rock Investment Management Company Limited and Lombarda China Fund, to acquire all of the outstanding shares of Magnachip common stock for $35.00 per share in cash. Market observers have noted that this latest bid offers significantly greater value than the Wise Road deal. Nevertheless, the Magnachip Board has not terminated the Wise Road transaction, or even recognized the subsequent proposal as a superior offer.