NEW YORK, NY / ACCESSWIRE / October 21, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Silvaco Group, Inc. ("Silvaco" or the "Company") (NASDAQ:SVCO). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Silvaco and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On or around May 8, 2024, Silvaco conducted its initial public offering ("IPO") of 6 million shares priced at $19.00 per share.
Then, on October 15, 2024, Silvaco issued a press release announcing preliminary unaudited revenue results for the third quarter of 2024 and updated its outlook for the full year 2024. Among other items, Silvaco lowered its full year revenue guidance to a range of $60 million to $63 million, compared to previous guidance of $63 million to $66 million, and lowered its year-over-year growth projection to a range of 10% to 16%, compared to previous guidance of 16% to 22%.
On this news, Silvaco's stock price fell $3.61 per share, or 32.64%, to lose at $7.45 per share on October 16, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP