Vicor(US:VICR) GlobeNewswire News Roomยท2024-09-09 21:42Core Viewpoint - Vicor Corporation is facing a federal securities class action lawsuit due to significant declines in stock prices following disappointing financial results and misleading statements regarding its business performance and contracts [1][2][3]. Financial Performance - On October 24, 2023, Vicor reported a reduction in backlog and expressed concerns about revenue, gross margin, and operating expenses being approximately flat sequentially, leading to a stock price drop of $14.14, or 26.6%, from $53.19 to $39.05 [1]. - On February 22, 2024, Vicor announced fourth-quarter financial results that missed analyst expectations, resulting in a further decline of $10.97, or 23.4%, from $46.84 to $35.67 [2]. Allegations in the Lawsuit - The lawsuit claims that Vicor's management made false or misleading statements about the company's technology and market opportunities, including: - Misrepresentation of the potential customer base for Vicor's advanced products in AI [3]. - False impressions regarding increased opportunities from Power Distribution Networks solutions [3]. - Lack of a significant deal with Nvidia for its H100 product [3]. - Continued weakness and decrease in backlog for the third quarter of 2023 [3].