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Vicor(VICR) - 2024 Q3 - Quarterly Results
2024-10-22 20:24
Exhibit 99.1 NEWS RELEASE FINANCIAL NEWS BRIEF October 22, 2024 For Immediate Release Vicor Corporation Reports Results for the Third Quarter Ended September 30, 2024 Andover, Mass., October 22, 2024 (GLOBE NEWSWIRE) — Vicor Corporation (NASDAQ: VICR) today reported financial results for the third quarter ended September 30, 2024. These results will be discussed later today at 5:00 p.m. Eastern Time, during management's quarterly investor conference call. The details for the call are below. Revenues for the ...
Vicor introduces new high-density automotive-grade power modules
GlobeNewswire News Room· 2024-10-16 13:02
Core Insights - Vicor has launched three automotive-grade power modules that enhance power density and support the transition to 48V zonal architectures [1] - The new modules, BCM6135, DCM3735, and PRM3735, facilitate 48V power distribution in vehicles, including 800V-to-48V conversion and regulation for legacy 12V systems [1] Company Overview - Vicor is a leader in high-performance power modules, focusing on modular power system solutions that maximize density and efficiency [2] - The company has over 40 years of experience in designing and manufacturing power modules for various demanding markets, including automotive, aerospace, and industrial equipment [2] - Vicor's patented high-frequency DC-DC power conversion technology is particularly suited for the automotive sector [2]
Vicor Corporation to Hold Third Quarter Earnings Conference Call and Webcast on October 22, 2024
GlobeNewswire News Room· 2024-10-08 20:05
ANDOVER, Mass., Oct. 08, 2024 (GLOBE NEWSWIRE) -- Vicor Corporation (NASDAQ: VICR) announced today it will hold its third quarter 2024 earnings conference call and webcast on Tuesday, October 22, 2024 at 5:00 p.m. (Eastern). Prepared remarks regarding the company's financial and operational results for the three and nine months ended September 30, 2024 will be followed by a question and answer period with Patrizio Vinciarelli, Chief Executive Officer, Jim Schmidt, Chief Financial Officer, and Phil Davies, C ...
Computing Systems Containing Certain Power Modules Infringe Vicor Patents
GlobeNewswire News Room· 2024-09-30 14:27
Core Points - Vicor Corporation announced an Initial Determination of a Section 337 violation regarding the importation of certain power converter modules and computing systems that infringe U.S. Patent Nos. 9,516,761 and 9,166,481 [1][2] - The investigation found that the respondents, including contract manufacturers, do not have a license to practice any claims of the asserted patents [2] - The International Trade Commission may issue an exclusion order to prevent the importation of infringing computing systems and cease and desist orders to bar their sales in the U.S. [2] Company Overview - Vicor Corporation designs, develops, manufactures, and markets modular power components and complete power systems based on patented technologies [4] - The company is headquartered in Andover, Massachusetts, and serves various markets including enterprise and high-performance computing, industrial equipment, telecommunications, and aerospace [4]
Vicor Corporation. Investors: Please contact the Portnoy Law Firm to recover your losses.
GlobeNewswire News Room· 2024-09-23 19:22
Core Viewpoint - Vicor Corporation is facing a class action lawsuit due to alleged misleading statements and failure to disclose critical information regarding its business performance and technology capabilities [4][5][6]. Group 1: Company Overview - Vicor Corporation is a global technology company that specializes in power solutions, including the design, development, and manufacture of modular power components and systems for electrical power conversion [3]. Group 2: Allegations of the Lawsuit - The class action lawsuit claims that during the class period, Vicor made false and misleading statements about its technology's potential to expand its customer base for AI products [4]. - The lawsuit alleges that Vicor misrepresented the opportunities from its Power Distribution Networks solutions and failed to secure a major deal with Nvidia for its H100 product [4]. - It is claimed that Vicor's backlog was weak and declining for the third quarter of 2023 [4]. Group 3: Impact on Stock Price - Following a disclosure on October 24, 2023, regarding a reduction in backlog and a lack of visibility in near-term outlook, Vicor's stock price fell nearly 27% [5]. - On February 22, 2024, Vicor reported fourth-quarter financial results that did not meet analyst expectations, leading to a further stock price drop of nearly 24% [6].
VICR FINAL DEADLINE: ROSEN, A GLOBAL AND LEADING LAW FIRM, Encourages Vicor Corporation Investors to Secure Counsel Before Important September 23 Deadline in Securities Class Action – VICR
GlobeNewswire News Room· 2024-09-20 21:35
Group 1 - The Rosen Law Firm is reminding purchasers of Vicor Corporation common stock during the Class Period (April 26, 2023 to February 22, 2024) of the lead plaintiff deadline on September 23, 2024 [1] - Investors who purchased Vicor common stock during the Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2] - A class action lawsuit has already been filed against Vicor Corporation, and interested parties can join the action by contacting the Rosen Law Firm [3][6] Group 2 - The lawsuit alleges that Vicor misled investors by creating a false impression of securing a significant deal for its H100 product, which was believed to be with Nvidia Corporation [5] - The misleading statements were highlighted when Vicor failed to discuss the deal on October 24, 2023, and later announced a sharp reversal in new contracts and sales on February 22, 2024 [5] - The lawsuit claims that when the true details were revealed, investors suffered damages [5] Group 3 - The Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a successful track record in securities class actions [4] - The firm has achieved significant settlements for investors, including over $438 million in 2019 and has been ranked highly for its performance in securities class action settlements [4]
INVESTOR DEADLINE MONDAY: Robbins Geller Rudman & Dowd LLP Announces that Vicor Corporation Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit - VICR
GlobeNewswire News Room· 2024-09-20 11:15
Core Viewpoint - The Vicor Corporation is facing a class action lawsuit for alleged violations of the Securities Exchange Act of 1934, with claims that the company and its executives made misleading statements regarding its technology and financial performance during a specified class period [1][4]. Company Overview - Vicor Corporation is a global power technology company that designs, develops, manufactures, and markets modular power components and power systems for converting electrical power [3]. Allegations of the Lawsuit - The lawsuit alleges that Vicor's executives created a false impression of the company's technology capabilities in high power applications, particularly in relation to AI products [4]. - It is claimed that Vicor did not secure a significant deal with Nvidia for its H100 product and that the company's backlog was weak and decreasing for Q3 2023 [4]. - On October 24, 2023, Vicor disclosed a reduction in backlog and indicated a lack of visibility for its near-term outlook, leading to a nearly 27% drop in stock price [5]. - On February 22, 2024, Vicor reported fourth-quarter financial results that missed analyst expectations, resulting in a further nearly 24% decline in stock price [6]. Legal Process - The Private Securities Litigation Reform Act of 1995 allows any investor who purchased Vicor common stock during the class period to seek appointment as lead plaintiff in the lawsuit [7]. - The lead plaintiff represents the interests of all class members and can select a law firm to litigate the case [7]. Law Firm Background - Robbins Geller Rudman & Dowd LLP is a leading law firm in securities fraud cases, having recovered $6.6 billion for investors in securities-related class action cases [8].
Vicor Corporation Securities Fraud Class Action Lawsuit Pending: Contact Levi & Korsinsky Before September 23, 2024 to Discuss Your Rights – VICR
GlobeNewswire News Room· 2024-09-19 17:28
Core Viewpoint - Vicor Corporation is facing a class action securities lawsuit due to alleged securities fraud that affected investors between April 26, 2023, and February 22, 2024 [1][2] Group 1: Lawsuit Details - The lawsuit claims that Vicor misled investors by falsely indicating a significant deal for its H100 product with Nvidia Corporation, which was later proven incorrect [2] - Following the misleading statements, Vicor's stock price peaked at nearly $100 per share but subsequently fell approximately 60% [2] Group 2: Investor Participation - Investors who suffered losses during the specified period have until September 23, 2024, to request appointment as lead plaintiff, although participation in any recovery does not require this role [3] - Class members may be entitled to compensation without any out-of-pocket costs or fees [3] Group 3: Legal Representation - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [4] - The firm has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [4]
ROSEN, LEADING INVESTOR COUNSEL, Encourages Vicor Corporation Investors to Secure Counsel Before Important September 23 Deadline in Securities Class Action – VICR
GlobeNewswire News Room· 2024-09-16 22:36
Core Viewpoint - Rosen Law Firm is reminding investors who purchased Vicor Corporation common stock during the specified Class Period of the upcoming lead plaintiff deadline for a class action lawsuit [1][3]. Group 1: Class Action Details - Investors who bought Vicor common stock between April 26, 2023, and February 22, 2024, may be eligible for compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by September 23, 2024 [3]. Group 2: Law Firm Credentials - Rosen Law Firm emphasizes the importance of selecting qualified counsel with a successful track record in securities class actions, highlighting its own achievements in this area [4]. - The firm has secured the largest securities class action settlement against a Chinese company and has consistently ranked highly in terms of settlements since 2013, recovering hundreds of millions for investors [4]. Group 3: Case Background - The lawsuit alleges that Vicor misled investors regarding a significant deal for its H100 product, which was believed to be with Nvidia Corporation, but was not discussed in their earnings report on October 24, 2023, and later contradicted in a press release on February 22, 2024 [5]. - The lawsuit claims that when the true details were revealed, investors suffered damages due to the misleading statements made during the Class Period [5].
The Gross Law Firm Reminds Vicor Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of September 23, 2024 - VICR
Prnewswire· 2024-09-16 09:45
Core Viewpoint - Vicor Corporation (NASDAQ: VICR) is facing a class action lawsuit due to allegations of misleading statements regarding a significant deal for its H100 product, which was believed to be with Nvidia Corporation. The company's stock price has dropped approximately 60% from its intra-class period high of nearly $100/share [1]. Group 1 - The class period for the lawsuit is from April 26, 2023, to February 22, 2024 [1]. - Allegations include that Vicor created a false impression of securing a major deal, which was not discussed in their earnings announcement on October 24, 2023, and was later contradicted by a press release on February 22, 2024, indicating a sharp decline in new contracts and sales [1]. - The stock price decline reflects significant investor losses, highlighting the impact of the alleged misleading statements [1]. Group 2 - Shareholders are encouraged to register for the class action by September 23, 2024, to potentially be appointed as lead plaintiffs [2]. - Once registered, shareholders will receive updates through portfolio monitoring software regarding the case's progress [2]. - Participation in the case incurs no cost or obligation for shareholders [2]. Group 3 - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud [3]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors affected by misleading statements [3].