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VICR INVESTOR NOTICE: Robbins Geller Rudman & Dowd LLP Announces that Vicor Corporation Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit
VicorVicor(US:VICR) GlobeNewswire News Roomยท2024-08-03 13:41

Core Viewpoint - Vicor Corporation is facing a class action lawsuit for alleged violations of the Securities Exchange Act of 1934, with claims of misleading statements regarding its technology and financial performance during the 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 and its executives made false or misleading statements about: - The potential customer base for Vicor's advanced products in AI [4] - Opportunities from its Power Distribution Networks solutions [4] - The lack of a significant deal with Nvidia for its H100 product [4] - A weak and decreasing backlog for the third quarter of 2023 [4]. Financial Impact - On October 24, 2023, Vicor disclosed a reduction in backlog, leading to a nearly 27% drop in its stock price [5]. - On February 22, 2024, Vicor reported fourth-quarter financial results that missed analyst expectations, resulting in a nearly 24% decline in stock price [6]. Legal Process - Investors who purchased Vicor common stock during the class period can seek appointment as lead plaintiff in the lawsuit, which allows them to act on behalf of other class members [7].