Vicor(US:VICR) GlobeNewswire News Room·2024-09-11 18:31Core Viewpoint - A class action lawsuit has been filed against Vicor Corporation, alleging that the company misled investors regarding its AI platform and a purported deal with Nvidia, leading to inflated stock prices during the class period from April 26, 2023, to February 22, 2024 [1][2]. Group 1: Allegations and Impact - The lawsuit claims that Vicor misrepresented its AI platform's potential and falsely indicated a significant deal with Nvidia for its H100 product, which misled investors and inflated stock prices [2]. - Following the release of its Q3 2023 earnings on October 24, 2023, Vicor's stock price dropped by $14.14 per share after the company was reluctant to discuss its AI platforms, interpreted by analysts as a sign of diminishing opportunities in the AI market [3]. - On February 22, 2024, Vicor's end-of-year earnings report missed analyst expectations, leading to a significant decline in stock price from $46.84 per share to $35.67 per share the following day, indicating a sharp reversal in new contracts and sales [4]. Group 2: Legal Proceedings - Shareholders interested in participating in the class action must file motions by September 23, 2024, to serve as lead plaintiffs, representing the interests of other class members [5]. - Robbins LLP, the law firm handling the case, operates on a contingency fee basis, meaning shareholders incur no fees or expenses unless the case is won [6].