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VICR.US
id: 1286
Vicor (VICR) Issues with New Contract Case
N.D. California
Court3:24-cv-04196
Case number07/25/2023
Class period Start10/24/2023
Class period End09/11/2024
Lead Plaintiff motion deadline- $VICR stockholder filed a claim against Vicor for hiding important details about the new contract and overstating its prospects.
- After disappointing financial results on February 22, 2024, $VICR fell by 24%.
- Vicor investors can join this case to be notified about potential recovery.
Case Details:
On July 25, 2023, Vicor announced a major sale of its latest AI device but provided vague answers when analysts asked for details about the customer and contracts.
Due to the news and price rise, some investors had to close their short positions, causing substantial losses, including on certain derivative securities.
On February 22, 2024, Vicor released its Q4 2023 earnings, which fell short of analysts' expectations due to a sharp drop in revenue, shipments, and gross margins.
Analysts questioned the losses, especially given the company's recent claims of new contracts and sales.
Following this news, $VICR fell by 24% the next day.
Considering all the representations, investors have reasons to suspect that Vicor did not disclose important details about the new contract and overstated its prospects.
Case Status
Lead Plaintiff Appointed
Alleged Offence
Mismanagement,
Misleading Statements,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
02/23/2024
Filing date
07/11/2024
Lead Plaintiff Deadline
09/11/2024
Judge
Hon. Richard Seeborg