Vicor Responds To Allegations Made In Recently Filed Securities Litigation; Says "The Company's Statements On July 25, 2023 Were Truthful And Properly Represented Its Reasonable Expectations At The Time"
Portfolio Pulse from Benzinga Newsdesk
Vicor Corporation (NASDAQ:VICR) is addressing allegations from a securities litigation regarding its July 25, 2023 earnings call. The company asserts that its statements about a revenue ramp were truthful, based on $30 million in non-cancellable orders from a significant customer. However, the customer later changed its allocation, affecting the company's forward-looking statements.
September 03, 2024 | 4:07 pm
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Vicor Corporation is involved in securities litigation over its July 25, 2023 earnings call statements. The company claims its statements were truthful, based on $30 million in non-cancellable orders, but acknowledges a subsequent change in customer allocation.
The litigation could negatively impact investor sentiment and stock price in the short term. Although Vicor defends its statements, the change in customer allocation and ongoing legal proceedings introduce uncertainty.
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