Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Vicor Corporation (VICR). The firm is reminding investors of the September 23, 2024 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the company. The lawsuit alleges that Vicor and its executives violated federal securities laws by making false and misleading statements or failing to disclose crucial information.
The complaint alleges that Vicor secured a significant deal for its H100 product, which analysts believed was with Nvidia Corporation. However, Vicor conspicuously failed to discuss this deal on October 24, 2023, and later issued a press release on February 22, 2024, announcing a sharp reversal in new contracts and sales. This revelation caused Vicor’s stock price to plummet by approximately 60% from its intra-class period high of nearly $100 per share.
Investors who suffered losses exceeding $100,000 in Vicor between April 26, 2023 and February 22, 2024 are encouraged to contact Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). They can also visit www.faruqilaw.com/VICR for more information.
The lead plaintiff in the class action will be the investor with the largest financial interest in the relief sought by the class. This investor will direct and oversee the litigation on behalf of the class members.
Faruqi & Faruqi, LLP is also encouraging anyone with information regarding Vicor’s conduct to contact the firm. This includes whistleblowers, former employees, shareholders, and others.
Faruqi & Faruqi, LLP is a leading national securities law firm with offices in New York, Pennsylvania, California, and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995.
