NEW ORLEANS, LA / ACCESSWIRE / September 19, 2024 / Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until September 23, 2024 to file lead plaintiff applications in a securities class action lawsuit against Vicor Corporation (the "Company") (NASDAQ: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.
What You May Do
If you purchased securities of Vicor and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-vicr/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by September 23, 2024.
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.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients - including public institutional investors, hedge funds, money managers and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
CONTACT:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163
SOURCE: Kahn Swick & Foti, LLC