Vicor Corporation Class Action Lawsuit - VICR
Case Summary
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The Vicor class action lawsuit seeks to represent purchasers or acquirers of Vicor Corporation (NASDAQ: VICR) common stock between April 26, 2023 and February 22, 2024, inclusive (the “Class Period”). Captioned Valiquette v. Vicor Corporation, No. 24-cv-11935 (D. Mass.), the Vicor class action lawsuit charges Vicor and certain of Vicor’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 Vicor 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 Vicor class action lawsuit must be filed with the court no later than September 23, 2024.
CASE ALLEGATIONS: Vicor is a global power technology company that designs, develops, manufactures, and markets modular power components and power systems for converting electrical power.
The Vicor class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) defendants created the false impression that Vicor’s differentiated technology for high power applications would ramp up a customer base for Vicor’s advanced products in AI; (ii) defendants created the false impression that Vicor would have increased opportunities from its lateral and lateral/vertical Power Distribution Networks solutions; (iii) Vicor had not secured a significant deal with Nvidia for its H100 product; and (iv) Vicor’s backlog continued to remain weak and decreasing for the third quarter of 2023.
The Vicor class action lawsuit further alleges that on October 24, 2023, Vicor revealed that “[w]ith the reduction in backlog, including overdue backlog, we are more dependent on turns orders, and that results in less visibility to our near-term outlook” and that “our current expectation is that revenue, gross margin, and operating expenses will be approximately flat sequentially.” On this news, the price of Vicor common stock fell nearly 27%, according to the complaint.
Then, on February 22, 2024, the Vicor class action lawsuit further alleges that Vicor revealed financial results for the fourth quarter that missed analyst expectations and signaled a sharp reversal in Vicor’s new contracts and sales. On this news, the price of Vicor common stock fell nearly 24%, according to the complaint.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Vicor common stock during the Class Period to seek appointment as lead plaintiff in the Vicor 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 Vicor class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Vicor class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Vicor 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.