Press release
Investigation announced for Investors in Semtech Corporation (NASDAQ: SMTC) over potential Wrongdoing
An investigation on behalf of investors in Semtech Corporation (NASDAQ: SMTC) shares over potential wrongdoing at Semtech Corp.t
Investors who purchased shares of Semtech Corporation (NASDAQ: SMTC) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Semtech officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
Camarillo, CA based Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms.
On August 31, 2022, Semtech Corporation 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.
Further, on March 29, 2023, Semtech Corporation announced weak guidance for the first quarter of fiscal 2024 attributing it to lower than expected consumer demand and an extremely "weak China."
Shares of Semtech Corporation (NASDAQ: SMTC) declined from $29.97 per share on July 18, 2023, to as low as $22.04 per share on September 13, 2023.
Those who purchased shares of Semtech Corporation (NASDAQ: SMTC) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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