Semtech Corporation Class Action Lawsuit - SMTC
Case Summary
Investors who suffered a loss and would like to learn more, click here to contact us.
The Semtech class action lawsuit seeks to represent purchasers or acquirers of Semtech Corporation (NASDAQ: SMTC) securities between August 27, 2024 and February 7, 2025, inclusive (the “Class Period”). Captioned Kleovoulos v. Semtech Corporation, No. 25-cv-01474 (C.D. Cal.), the Semtech class action lawsuit charges Semtech and certain of Semtech’s top executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Semtech class action lawsuit, please provide your information in the form on this page. You can also contact attorney J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com. Lead plaintiff motions for the Semtech class action lawsuit must be filed with the court no later than April 22, 2025.
CASE ALLEGATIONS: Semtech designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. Semtech’s portfolio includes CopperEdge products, which can be used in active copper cables.
The Semtech class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Semtech’s CopperEdge products did not meet the needs of its server rack customer or end users; (ii) as a result, the CopperEdge products required certain rack architecture changes; (iii) consequently, Semtech’s sales of CopperEdge products would not ramp-up during fiscal 2026; and (iv) as such, sales of CopperEdge products would be lower-than-expected.
The Semtech class action lawsuit further alleges that on February 7, 2025, Semtech revealed that CopperEdge sales would not “ramp-up over the course of fiscal year 2026.” Based on “feedback from a server rack customer” and “discussions with end users of the server rack platform,” Semtech would implement certain “rack architecture changes,” the complaint alleges. As a result, Semtech expected CopperEdge sales to be “lower than the Company’s previously disclosed floor case estimate of $50 million,” according to the Semtech class action lawsuit. On this news, the price of Semtech stock fell approximately 31%, the complaint alleges.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Semtech securities during the Class Period to seek appointment as lead plaintiff in the Semtech class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Semtech class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Semtech class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Semtech class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud cases. Our Firm has been #1 in the ISS Securities Class Action Services rankings for six out of the last ten years for securing the most monetary relief for investors. We recovered $6.6 billion for investors in securities-related class action cases – over $2.2 billion more than any other law firm in the last four years. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.