Semtech(SMTC) Prnewswire·2025-02-24 05:48Core Viewpoint - A class action lawsuit has been filed against Semtech Corporation, alleging that the company misled investors regarding its business prospects, particularly concerning its CopperEdge products [1][2]. Allegations - The complaint states that Semtech failed to disclose that its CopperEdge products did not meet the needs of server rack customers and end users [2]. - It is alleged that the CopperEdge products required specific rack architecture changes, which were not communicated to investors [2]. - As a result of these issues, sales of CopperEdge products were expected to be lower than previously estimated, contradicting the company's positive statements about its business [2]. - The company anticipated that CopperEdge sales would not ramp up during fiscal 2026, leading to a significant downward revision of sales expectations [2][3]. Impact on Stock Price - Following the announcement on February 7, 2025, regarding the lower-than-expected sales of CopperEdge products, Semtech's stock price dropped by 37.60 per share on February 10, 2025 [3]. Class Action Participation - Shareholders interested in participating in the class action must file their papers by April 22, 2025, to serve as lead plaintiffs [4]. - Shareholders can remain absent class members if they choose not to participate in the case [4]. About Robbins LLP - Robbins LLP is noted for its focus on shareholder rights litigation, helping shareholders recover losses and improve corporate governance since 2002 [5].