Investors who lost money with shares of Aehr Test Systems, Inc. (NASDAQ: AEHR) should contact the Shareholders Foundation in connection with Lawsuit

An investor, who purchased shares of Aehr Test Systems, Inc. (NASDAQ: AEHR), filed a lawsuit over alleged violations of Federal Securities Laws by Aehr Test Systems, Inc.

Investors who purchased shares of Aehr Test Systems, Inc. (NASDAQ: AEHR) have certain options and for certain investors are short and strict deadlines running. Deadline: February 3, 2025. NASDAQ: AEHR investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Fremont, CA based Aehr Test Systems, Inc. provides test solutions for testing, burning-in, and semiconductor devices in wafer level, singulated die, package part form, and installed systems worldwide.

In October 2023, Aehr Test Systems, Inc. provided guidance for its fiscal full year 2024 financial results. Specifically, the Company stated that it expected "total revenue to be at least $100 million, representing growth of over 50% year over year[.]"
On January 9, 2024, Aehr Test Systems, Inc. cut its 2024 revenue forecast from $100 million to $75-$85 million, citing "a delay in the timing of new orders from current and new customers that will most likely impact this fiscal year's revenue." However, the Company's Chief Executive Officer Defendant Gayn Erickson was quick to downplay the significance of the updated forecast on a related earnings call that same day, claiming that the Company "took a very conservative stance in hopes there's no way we'll miss it on the low end, but I can see scenarios where we could be higher than the [$75-$85 million] range" and advising investors and analysts that the Company had "very good visibility" into its customers' order patterns.

Then, on March 25, 2024, Aehr Test Systems, Inc. announced preliminary fiscal Q3 2024 financial results. Among other things, the Company revealed that its Q3 revenue was estimated to be approximately $7.6 million, versus a consensus of $14.32 million, citing delays in wafer level burn-in system orders for semiconductor devices used in electric vehicles that have created a short-term gap in revenue and profitability. In addition, Aehr further cut its 2024 revenue forecast, stating that it now expected revenue of at least $65 million versus a consensus of $77.43 million.

Shares of Aehr Test Systems, Inc. (NASDAQ: AEHR) declined from $48.28 per share on October 2, 2023, to $9.83 per share on June 26, 2024.

The Defendants made false and/or misleading statements and/or failed to disclose that contrary to prior representations to investors, Aehr was continuing to experience substantial delays in customer orders, that the foregoing issue was likely to have a material negative impact on the Company's revenue growth, that accordingly, the Company's business and/or financial prospects were overstated, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of Aehr Test Systems, Inc. (NASDAQ: AEHR) 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.