Semtech(US:SMTC) Prnewswireยท2025-04-21 09:45Core Viewpoint - Semtech Corporation is facing a class action lawsuit due to allegations of issuing materially false and misleading statements regarding its CopperEdge products, which did not meet customer needs and resulted in lower-than-expected sales [1][2]. Allegations - The complaint alleges that during the class period from August 27, 2024, to February 7, 2025, Semtech's CopperEdge products failed to meet the requirements of server rack customers and end users [1]. - It is claimed that the CopperEdge products necessitated specific changes in rack architecture, which hindered sales growth during fiscal 2026 [1]. - As a result of these issues, the sales of CopperEdge products are projected to be lower than anticipated, contradicting the company's previously positive statements about its business and prospects [1]. Class Action Details - Shareholders who purchased shares of Semtech during the specified class period are encouraged to register for the class action, with a deadline set for April 22, 2025 [2]. - Registered shareholders will receive updates through a portfolio monitoring software regarding the status of the case [2]. Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud [3]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements or omissions [3].