SAN FRANCISCO, Dec. 25, 2024 (GLOBE NEWSWIRE) -- - On October 16, 2024, Silvaco Group, Inc. (NASDAQ: SVCO) shares crashed to their lowest level since the company conducted its May 2024 IPO at $19 per share after the company reported disastrous preliminary Q3 financial results and a dismal outlook. The company revealed a substantial year-over-year revenue decline due to delayed China orders, and significantly reduced FY guidance for key metrics. The steep drop-off has called into question whether these risks had already materialized at the time of the May 2024 IPO.
Hagens Berman has opened an investigation and urges investors in Silvaco Group who purchased shares in the company’s IPO or on the open market and suffered substantial losses to submit your losses now.
Visit: www.hbsslaw.com/investor-fraud/svco
Contact the Firm Now: SVCO@hbsslaw.com
844-916-0895
Silvaco Group, Inc. (SVCO) Investigation:
The investigation is focused on the propriety of Silvaco’s disclosures about the condition of its business in China at the time of the May 2024 IPO and thereafter.
On October 15, 2024, Silvaco reported its preliminary Q3 2024 financial results and provided updated FY 2024 guidance. Among other things, the company reported a 27% year-over-year decrease in revenues, primarily due to delayed orders from China, and significantly reduced FY ranges for its gross bookings, revenue, year-over-year growth, and its non-GAAP operating income.
CEO Babak Taheri said, “we saw a decline in orders from Asia during Q3 primarily driven by economic challenges and the ongoing strain in U.S.-China trade relations.”
This news sent the price of Silvaco shares down $3.61 (-32%) lower on October 16, 2024 to close at $7.45 (or 60% below the IPO price).
“We’re focused on whether Silvaco was transparent to investors about the troubles the company faced in China,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Silvaco and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »
If you’d like more information and answers to frequently asked questions about the Silvaco investigation, read more »
Whistleblowers: Persons with non-public information regarding Silvaco should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email SVCO@hbsslaw.com.
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Contact:
Reed Kathrein, 844-916-0895
