SHAREHOLDER ALERT: The Gross Law Firm Notifies Shareholders of Semtech Corporation of an Investigation and Potential Class Action Lawsuit – (NASDAQ: SMTC)
News provided byThe Gross Law Firm
Sep 18, 2023, 12:36 PM ET
NEW YORK, Sept. 18, 2023 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Semtech Corporation:
On August 31, 2022, Semtech announced lower than expected guidance for the fourth quarter 2022 due to “weakness in the consumer sector.” The Company blamed the downturn on “macroeconomic softness” and ongoing pandemic-related challenges in China. Following this news, Semtech’s stock price fell by $12.54 per share, or approximately 27% to close at $33.65 per share. Further, on March 29, 2023, Semtech announced weak guidance for the first quarter of fiscal 2024 attributing it to lower than expected consumer demand and an extremely “weak China.” Following this news, Semtech’s stock price fell by $6.86 per share, or approximately 21% to close at $25.25 per share.
Due to the forgoing, The Gross Law Firm is investigating potential securities fraud claims on behalf of certain Semtech investors. If you incurred a loss on your SMTC investment, please contact us using the link below to discuss your rights.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Phone: (646) 453-8903
NOTE: This content is not written by or endorsed by "WJET/WFXP", its advertisers, or Nexstar Media Inc.