Upcoming Lead Plaintiff Deadline is September 24, 2024
NEW YORK, Aug. 2, 2024 /PRNewswire/ — Wolf Haldenstein Adler Freeman & Herz LLP (“Wolf Haldenstein”) announces that a securities class action lawsuit has been filed in the United States District Court for the District of Massachusetts on behalf of all persons or entities who purchased or otherwise acquired Vicor Corporation (“Vicor” or the “Company”) (NASDAQ: VICR) securities between April 26, 2023 and February 22, 2024, inclusive (the “Class Period”).
All investors who purchased shares and incurred losses are advised to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.
If you have incurred losses, you may, no later than September 24, 2024, request that the Court appoint you as the lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights.
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The filed Complaint alleges that Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges that Defendants created the false impression that:
- their differentiated technology for high power applications would ramp up a customer base for their advanced products in AI; and
- they would have increased opportunities from its lateral and lateral/vertical PDN solutions;
but that neither was true. The Complaint alleges that as a result, the Company’s public statements were materially false and misleading at all relevant times.
The Complaint alleges that the truth emerged on February 22, 2024. Vicor issued a press release announcing financial results for the fourth quarter and year ended 2023, where Vicor missed analyst expectations for the fourth quarter 2023. According to the Complaint, an analyst at Craig-Hallum lowered its price target on Vicor’s lack of visibility reporting that “Vicor’s large 4Q miss, complete lack of forward guidance that implies a much lower outlook for some time…”.
The Complaint further alleges that as a result, investors and analysts reacted immediately to Vicor’s revelation. The price of Vicor’s common stock declined dramatically. From a closing market price of $46.84 per share on February 22, 2024, to $35.87 per share on February 23, 2024.
Wolf Haldenstein has experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas, and offices in New York, Chicago, Nashville and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at [email protected].
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
SOURCE Wolf Haldenstein Adler Freeman & Herz LLP
