NEW YORK, NY / ACCESSWIRE / November 20, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of Universal Display Corporation ("Universal Display Corporation") (NASDAQ:OLED) concerning possible violations of federal securities laws.
On August 1, 2024, Universal reported solid 2Q 2024 results and raised the bottom-end of its full year revenue outlook. Management also announced a delay in the commercial introduction of its phosphorescent blue emissive system.
Following this news, OLED's stock price fell by $40.39 per share, or approximately 19% to close at $172.28 per share.
Further, on October 30, 2024, Universal announced 3Q 2024 revenue results that fell short of consensus and lowered its CY2024 revenue guidance. Analysts questioned the continued delay and lack of an "explicit timeline" in the commercial availability of Phosphorescent Blue.
Following this news, OLED's stock price fell by $22.84 per share, or approximately 12% to close at $180.32 per share. To obtain additional information, go to:
https://zlk.com/pslra-1/universal-display-corporation-lawsuit-submission-form?prid=112764&wire=1
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212)363-7500.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212)363-7500
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SOURCE: Levi & Korsinsky, LLP