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SVVC Deadline: SVVC Investors with Losses in Excess of $100K Have Opportunity to Lead Firsthand Technology Value Fund, Inc. Securities Fraud Lawsuit
SVVCFirsthand Technology(SVVC) Prnewswire·2025-05-18 12:00

Core Viewpoint - Rosen Law Firm is reminding purchasers of common stock of Firsthand Technology Value Fund, Inc. about the lead plaintiff deadline for a class action lawsuit related to significant shareholder value destruction and misleading statements made by the fund's management [1][5]. Group 1: Class Action Details - The class action pertains to common stock purchases of Firsthand Technology between January 1, 2021, and November 14, 2023, with a lead plaintiff deadline set for May 20, 2025 [1][2]. - Investors who purchased shares during the class period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2][3]. - A class action lawsuit has already been filed, and interested parties can join by contacting Rosen Law Firm [3][6]. Group 2: Allegations Against Firsthand Technology - The lawsuit alleges that the management and service providers of Firsthand Technology destroyed over 200millioninshareholdervalue[5].−Itisclaimedthatthedefendantsinflatedthevalueofthefund′sremaininginvestmentsusingimplausiblevaluationmethodologies,whichwerethenintegratedintothefund′spubliclystatednetassetvalue(NAV)[5].−Asaresultofthesefraudulentvaluations,purchasersofthefund′ssharesexperiencedsignificantinflationinmarketprice,leadingtodamages[5].Group3:RosenLawFirm′sCredentials−RosenLawFirmhasastrongtrackrecordinsecuritiesclassactions,havingachievedthelargestsecuritiesclassactionsettlementagainstaChinesecompanyatthetime[4].−ThefirmhasbeenrankedNo.1forthenumberofsecuritiesclassactionsettlementsin2017andhasconsistentlyrankedinthetop4since2013,recoveringhundredsofmillionsofdollarsforinvestors[4].−In2019,thefirmsecuredover200 million in shareholder value [5]. - It is claimed that the defendants inflated the value of the fund's remaining investments using implausible valuation methodologies, which were then integrated into the fund's publicly stated net asset value (NAV) [5]. - As a result of these fraudulent valuations, purchasers of the fund's shares experienced significant inflation in market price, leading to damages [5]. Group 3: Rosen Law Firm's Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved the largest securities class action settlement against a Chinese company at the time [4]. - The firm has been ranked No. 1 for the number of securities class action settlements in 2017 and has consistently ranked in the top 4 since 2013, recovering hundreds of millions of dollars for investors [4]. - In 2019, the firm secured over 438 million for investors, showcasing its capability and success in representing investor rights [4].