Press release
Investigation for Long-Term Investors in shares of Vicor Corporation (NASDAQ: VICR) announced
An investigation on behalf of investors in Vicor Corporation (NASDAQ: VICR) shares over potential wrongdoing at Vicor Corporation
Investors who purchased shares of Vicor Corporation (NASDAQ: VICR) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Vicor Corporation directors breached their fiduciary duties and caused damage to the company and its shareholders.
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. Vicor Corporation reported that its annual Total Revenue rose from $359.36 million in 2021 to $399.07 million in 2022, and that its Net Income declined from $56.62 million in 2021 to $31.2 million in 2022.
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.
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.
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