Lawsuit for Investors who Lost over $100,000 in shares of Aehr Test Systems, Inc. (NASDAQ: AEHR) between January and March 2024 announced by Shareholders Foundation
Lawsuit for Investors who Lost over $100,000 in shares of Aehr Test Systems, Inc. (NASDAQ: AEHR) between January and March 2024 announced by Shareholders Foundation |
| [16-January-2025] |
SAN DIEGO, Jan. 16, 2025 /PRNewswire/ -- The Shareholders Foundation, Inc. announced that a lawsuit was filed for certain investors in Aehr Test Systems, Inc. (NASDAQ: AEHR) shares.
Investors who purchased more than $100,000 in shares of Aehr Test Systems, Inc. (NASDAQ: AEHR) between January 9, 2024, and March 24, 2024, have certain options and there are short and strict deadlines running. Deadline: February 3, 2025. Those NASDAQ: AEHR investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. 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. On December 03, 2024, an investor in NASDAQ: AEHR shares filed a lawsuit against Aehr Test Systems, Inc. The plaintiff alleges that 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) should contact the Shareholders Foundation, Inc. CONTACT: The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
SOURCE Shareholders Foundation, Inc. | ||
Company Codes: NASDAQ-SMALL:AEHR |
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