Kirby McInerney LLP Announces Investigation Against Silvaco Group, Inc. (SVCO) on Behalf of Investors
/EIN News/ -- NEW YORK, Jan. 02, 2025 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP is investigating potential claims against Silvaco Group, Inc. (“Silvaco” or the “Company”) (NASDAQ:SVCO). The investigation concerns whether Silvaco and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
[LEARN MORE ABOUT THE INVESTIGATION]
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. Silvaco’s CEO, Babak Taheri, said, “we saw a decline in orders from Asia during Q3 primarily driven by economic challenges and the ongoing strain in the U.S.-China trade relations.” This news shocked investors, coming just five (5) months after the Company’s May 2024 Initial Public Offering of six (6) million shares at a price of $19.00 per share. On this news, the price of Silvaco shares declined by $3.61 per share, or approximately 32%, from $11.06 per share on October 15, 2024, to close at $7.45 on October 16, 2024.
If you purchased or otherwise acquired Silvaco securities, have information, or would like to learn more about this investigation, contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out the form below to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
investigations@kmllp.com
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