SMTC Shareholders Can Lead Class Action Lawsuit Against Semtech Corporation

Investors who own shares of Semtech Corporation (NASDAQ: SMTC) have the chance to take part in a class action lawsuit. Bronstein, Gewirtz and Grossman, LLC are encouraging shareholders who suffered losses to contact them regarding their legal options.

The lawsuit concerns allegations that Semtech Corporation failed to disclose information regarding the company’s financial performance and prospects accurately. The suit claims that as a result of these alleged false statements and failures to disclose, Smith’s stock price was artificially inflated during the class period.

According to the lawsuit, in a May press release, Semtech lowered its revenue guidance for the second quarter of the fiscal year 2022 due to impacts from the global chip shortage. The company’s CEO stated that the unexpected shortfall was primarily due to “the greater-than-expected impact of reduced Q2 shipments resulting from the ongoing direct restrictions imposed on Asian suppliers today.”

Semtech’s stock price reportedly dropped after this announcement, causing harm to investors who had lost money.

Bronstein, Gewirtz, and Grossman, LLC are encouraging shareholders who suffered losses exceeding $100,000 to contact them for more information on the upcoming class action lawsuit against Semtech Corporation. Investors are encouraged to speak with a securities attorney from the law firm to understand their legal rights and options moving forward.

“Our goal is to make sure investors are aware of their rights when they have suffered losses due to inaccurate information provided by companies,” said company spokesperson John Doe. “We are here to provide guidance and support to shareholders who may have been affected by these alleged violations of federal securities laws.”

Investors who are interested in joining the class action lawsuit against Semtech Corporation are advised to contact Bronstein, Gewirtz and Grossman, LLC as soon as possible. The law firm is committed to holding companies accountable for their actions and seeking justice for investors who have suffered losses as a result of misleading information.

If you are a Semtech Corporation shareholder who has experienced financial losses and believes you may be eligible to join the class action lawsuit, do not hesitate to reach out to Bronstein, Gewirtz, and Grossman, LLC for more information.