NEW ORLEANS, Sept. 6, 2024 /PRNewswire/ — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until September 23, 2024 to file lead plaintiff applications in a securities class action lawsuit against Vicor Corporation (the “Company”) (NasdaqGS: VICR), if they purchased or otherwise acquired the Company’s shares between April 26, 2023 and February 22, 2024, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of Massachusetts.
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Vicor investors should visit us at https://www.claimsfiler.com/cases/nasdaq-vicr-1 or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Vicor and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 22, 2024, despite the Company’s prior statements regarding increased opportunities including a significant deal with Nvidia for its H100 product, the Company disclosed disappointing financial news including a 12.2% decrease in revenues for the fourth quarter ended December 31, 2023, a decrease in gross margin to $47.3 million for the fourth quarter of 2023, compared to $49.1 million for the corresponding period a year ago, and a 47.2% decrease in backlog from $304.4 million to $160.8 million.
On this news, the price of Vicor’s shares fell from $46.84 per share on February 22, 2024, to $35.87 per share on February 23, 2024.
The case is Valiquette v. Vicor Corporation, et al., 24-cv-11935.
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ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
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