SAN DIEGO, Feb. 28, 2025 (GLOBE NEWSWIRE) — The law firm of Robbins Geller Rudman & Dowd LLP<\/strong><\/a> announces that purchasers or acquirers of Semtech Corporation (NASDAQ: SMTC) securities between August 27, 2024 and February 7, 2025, both dates inclusive (the \u201cClass Period\u201d), have until April 22, 2025 to seek appointment as lead plaintiff of the Semtech <\/em>class action lawsuit. Captioned Kleovoulos v. Semtech Corporation<\/em>, No. 25-cv-01474 (C.D. Cal.), the Semtech <\/em>class action lawsuit charges Semtech as well as certain of Semtech\u2019s top executives with violations of the Securities Exchange Act of 1934.<\/p>\n If you suffered substantial losses and wish to serve as lead plaintiff of the <\/strong>Semtech <\/em><\/strong>class action lawsuit, please provide your information here:<\/strong><\/p>\n https:\/\/www.rgrdlaw.com\/cases-semtech-corporation-class-action-lawsuit-smtc.html<\/strong><\/a><\/p>\n You can also contact attorneys <\/strong>J.C. Sanchez<\/strong><\/a> or <\/strong>Jennifer N. Caringal<\/strong><\/a> of Robbins Geller by calling 800\/449-4900 or via e-mail at <\/strong>info@rgrdlaw.com<\/strong><\/a>.<\/strong><\/p>\n CASE ALLEGATIONS<\/strong>: Semtech designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. Semtech\u2019s portfolio includes CopperEdge products, which can be used in active copper cables.<\/p>\n The Semtech <\/em>class action lawsuit alleges that defendants throughout the Class Period made false and\/or misleading statements and\/or failed to disclose that: (i) Semtech\u2019s 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\u2019s sales of CopperEdge products would not ramp-up during fiscal 2026; and (iv) as such, sales of CopperEdge products would be lower-than-expected.<\/p>\n The Semtech<\/em> class action lawsuit further alleges that on February 7, 2025, Semtech revealed that CopperEdge sales would not \u201cramp-up over the course of fiscal year 2026.\u201d Based on \u201cfeedback from a server rack customer\u201d and \u201cdiscussions with end users of the server rack platform,\u201d Semtech would implement certain \u201crack architecture changes,\u201d the complaint alleges. As a result, Semtech expected CopperEdge sales to be \u201clower than the Company\u2019s previously disclosed floor case estimate of $50 million,\u201d according to the Semtech<\/em> class action lawsuit. On this news, the price of Semtech stock fell approximately 31%, the complaint alleges.<\/p>\n THE LEAD PLAINTIFF PROCESS<\/strong>: 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 <\/em>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 <\/em>class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Semtech <\/em>class action lawsuit. An investor\u2019s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Semtech <\/em>class action lawsuit.<\/p>\n ABOUT ROBBINS GELLER<\/strong>: Robbins Geller Rudman & Dowd LLP is one of the world\u2019s 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 \u2013 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\u2019 firms in the world and the Firm\u2019s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever \u2013 $7.2 billion \u2013 in In re Enron Corp. Sec. Litig.<\/em> Please visit the following page for more information:<\/p>\n
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