Class Action Announcement SMTC: A Securities Fraud Class Action Lawsuit Was Filed Against Semtech Corporation (SMTC)

Core Viewpoint - Securities class action lawsuits have been filed against Semtech Corporation for allegedly making false and misleading statements regarding its business operations and product performance during the specified Class Period from August 27, 2024, to February 7, 2025 [1][2]. Group 1: Allegations Against Semtech - The complaint claims that Semtech's CopperEdge products did not meet the needs of its server rack customers, leading to required changes in rack architecture [2]. - As a result of the aforementioned issues, Semtech's sales of CopperEdge products are expected to be lower than anticipated, impacting the company's fiscal 2026 sales ramp-up [2]. - The positive statements made by Semtech regarding its business and prospects were deemed materially misleading and lacked a reasonable basis due to these undisclosed facts [2]. Group 2: Legal Process and Investor Participation - Investors in Semtech have until April 22, 2025, to seek appointment as lead plaintiff representatives in the class action lawsuit [3]. - A lead plaintiff is typically the investor or small group of investors with the largest financial interest in the case, who will direct the litigation on behalf of all class members [3]. - Participation as a lead plaintiff does not affect an investor's ability to share in any potential recovery from the lawsuit [3]. Group 3: Firm Background - Kessler Topaz Meltzer & Check, LLP is known for prosecuting class actions and has a reputation for recovering billions of dollars for victims of corporate misconduct [4]. - The firm aims to protect investors and others from fraud and negligence by businesses [4].