Lawsuit filed for Investors who lost money with shares of Vicor Corporation (NASDAQ: VICR)

An investor, who purchased shares of Vicor Corporation (NASDAQ: VICR), filed a lawsuit over alleged violations of Federal Securities Laws by Vicor Corporation in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Vicor Corporation (NASDAQ: VICR) have certain options and for certain investors are short and strict deadlines running. Deadline: September 23, 2024. NASDAQ: VICR investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Andover, MA based Vicor Corporation, together with its subsidiaries, designs, develops, manufactures and markets modular power components and power systems for converting electrical power in the United States and internationally.

On July 25, 2023, Vicor Corporation announced on a call that Vicor had entered into a substantial contract with one of its "significant" existing customers which would ramp up at the end of the year in the fourth quarter. Given that it was already known that Vicor's two major customers were Nvidia and Google, the stock shot up almost immediately. Relying on the news and the price increase, each Plaintiff was forced to cover their short positions-which included certain derivative securities for some, suffering substantial losses.

On October 24, 2023 Vicor Corporation announced on its third quarter investor call held, that it further struggles, and for the first time revealed the truth that was no "significant customer" contract, and that any growth was expected to occur in the "medium to long term"-meaning, 2025 or 2026.

On October 25, 2023 a report was published that the "investment firm Needham downgraded the stock to 'Hold' from 'Buy', a day after Vicor reported its third-quarter results." According to the report, a research note issued by Needham stated that "Vicor reported inline 3Q23 results and 4Q23 guidance, but bookings and backlog were underwhelming and management's tone on the AI platform win announced last quarter appeared more cautious." Based on this news, shares of Vicor fell by more than 28.4% in intraday trading on the same day.

Shares of Vicor Corporation (NASDAQ: VICR) declined from $98.38 per share on July 27, 2023, to as low as $37.26 per share on January 05, 2024.

The plaintiff claims that between April 26, 2023 and February 22, 2024, the defendants provided investors with material information concerning Vicor's second quarter 2023 earnings alongside a series of promotional statements about the company's forthcoming AI platform, that these AI-related statements led investors to believe that Vicor had secured a significant deal with Nvidia for its H100 product, that during an investor conference call the same day, analysts asked Defendant Vinciarelli if the new AI platform was for a new customer and how significant was the volume of the incoming business, that Defendant Vinciarelli assured the market that it was "new generation for an existing customer" and that it was a "significant customer", and that Defendants provided these overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements that Vicor Corporation's prospects for a big sales contract with Nvidia.

Those who purchased shares of Vicor Corporation (NASDAQ: VICR) 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.

This release was published on openPR.