The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Central District of California on behalf of shareholders of Semtech Corporation who purchased Securities between August 27, 2024 and February 7, 2025.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) its CopperEdge products did not meet the needs of its server rack customer or end users; (2) as a result, the CopperEdge products required certain rack architecture changes; (3) as a result of the foregoing, the Company’s sales of CopperEdge products would not ramp-up during fiscal 2026; (4) as a result, sales of CopperEdge products would be lower-than-expected; and (5) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until April 22, 2025 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.
