Semtech(US:SMTC) Prnewswire·2025-03-12 09:45Core Viewpoint - A class action securities lawsuit has been filed against Semtech Corporation, alleging securities fraud that negatively impacted investors between August 27, 2024, and February 7, 2025 [1][2]. Group 1: Allegations of Fraud - The lawsuit claims that Semtech's CopperEdge products failed to meet the needs of its server rack customers, necessitating changes in rack architecture [2]. - It is alleged that due to these issues, sales of CopperEdge products would not increase as expected during fiscal 2026, leading to lower-than-anticipated sales [2]. - The defendants are accused of making misleading positive statements regarding the Company's business and prospects, which lacked a reasonable basis [2]. Group 2: Legal Process and Participation - Investors who suffered losses during the specified timeframe have until April 22, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require this role [3]. - Class members may be entitled to compensation without incurring any out-of-pocket costs or fees, with no obligation to participate [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a history of securing significant settlements for shareholders and is recognized as one of the top securities litigation firms in the United States [4].