Wednesday, 12 February 2025 05:20 PM
Class Action
NEW YORK, NY / ACCESS Newswire / February 12, 2025 / Pomerantz LLP is investigating claims on behalf of investors of Semtech Corporation ("Semtech" or the "Company") (NASDAQ:SMTC). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Semtech and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On February 7, 2025, Semtech announced that it expects net sales of its CopperEdge products to fall below its prior floor estimate of $50 million in fiscal year 2026, citing changes in the firm's server rack architecture due to poor feedback from a key customer.
On this news, Semtech's stock price fell $16.91 per share, or 31.02%, to close at $37.60 per share on February 10, 2025.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
SOURCE: Pomerantz LLP