Aehr Test(AEHR) GlobeNewswire News Room·2025-01-24 23:11Class Action Lawsuit - The Portnoy Law Firm is advising Aehr Test Systems, Inc investors of a class action representing those who bought securities between January 9, 2024 and March 24, 2024 [1] - Investors have until February 3, 2025 to file a lead plaintiff motion [1] Financial Results and Stock Impact - On March 25, 2024, Aehr announced preliminary financial results for Q3 FY2024 with expected revenue of $7.6 million, significantly below the consensus estimate of $14.3 million [3] - The revenue shortfall was attributed to delays in wafer-level burn-in system orders for semiconductor devices used in electric vehicles [3] - Aehr revised its 2024 revenue forecast downward by approximately $15 million [3] - As a result, Aehr's stock price dropped by $3.29, or 22.4%, closing at $11.37 per share on March 25, 2024 [4] Allegations in the Complaint - The class action complaint alleges that during the Class Period, Defendants made materially false and/or misleading statements and failed to disclose critical negative information about the Company's business, operations, and prospects [5] - Specifically, the Complaint asserts that Defendants failed to disclose substantial delays in customer orders, which were likely to significantly negatively affect the Company's revenue growth [5] - The Complaint also claims that the Company's business and financial outlook were overstated, and Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and lacked a reasonable basis [5] Legal Representation - Investors are encouraged to contact attorney Lesley F Portnoy to discuss their legal rights and options for pursuing claims to recover their losses [2] - The Portnoy Law Firm can provide a complimentary case evaluation [2]