Lead Plaintiff Deadline is April 22, 2025
PLEASE CLICK HERE TO PROVIDE CONTACT INFORMATION AND JOIN THE CASE
NEW YORK, March 4, 2025 /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 Central District of California on behalf of purchasers of Semtech Corporation (NASDAQ: SMTC) (“Semtech”) securities between August 27, 2024 and February 7, 2025, inclusive (the “Class Period”).
PLEASE CLICK HERE TO PROVIDE CONTACT INFORMATION AND JOIN THE CASE
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 April 22, 2025, request that the Court appoint you as the lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights.
Semtech designs, develops, manufactures, and markets analog and mixed-signal semiconductors and advanced algorithms. Semtech’s portfolio includes CopperEdge products, which can be used in active copper cables.
The filed complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:(i) Semtech’s CopperEdge products did not meet the needs of its server rack customer or end users; (ii) as a result, the CopperEdge products required certain rack architecture changes; (iii) consequently, Semtech’s sales of CopperEdge products would not ramp-up during fiscal 2026; and (iv) as such, sales of CopperEdge products would be lower-than-expected.
It is alleged that on February 7, 2025, Semtech revealed that CopperEdge sales would not “ramp-up over the course of fiscal year 2026.” Based on “feedback from a server rack customer” and “discussions with end users of the server rack platform,” Semtech would implement certain “rack architecture changes.”.
As a result, Semtech expected CopperEdge sales to be “lower than the Company’s previously disclosed floor case estimate of $50 million.”
On this news, the price of Semtech stock fell approximately over 38% during consecutive trading sessions.
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 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
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SOURCE Wolf Haldenstein Adler Freeman & Herz LLP
