#United States #New York #Faruqi & Faruqi #Aehr Test Systems #Investors Attention

Shareholder Action Reminder

The nationally recognized securities law firm, Faruqi & Faruqi, LLP, is currently conducting an investigation into possible legal claims against Aehr Test Systems, Inc. This inquiry could be significant for investors who have suffered losses exceeding $50,000 from January 9, 2024, to March 24, 2024. The firm encourages affected shareholders to reach out for a discussion about their legal options, especially ahead of the February 3, 2025 deadline for seeking the role of lead plaintiff in a federal class action.

Background on Aehr Test Systems

Aehr Test Systems, a company listed under the NASDAQ ticker AEHR, is known for its innovative technologies within the semiconductor industry. However, the company's recent financial disclosures have raised concerns, as they appear to contradict earlier statements regarding growth and order fulfillment. In October 2023, Aehr projected a revenue growth exceeding 50% for the fiscal year 2024, anticipating at least $100 million in total revenue. But just a few months later, the company substantially revised its projections downward, citing delays in customer orders that jeopardized its financial health.

Timeline of Events

• - October 2023: Aehr announces ambitious revenue expectations, suggesting a prosperous year ahead.
• - January 9, 2024: The company makes a shocking announcement, slashing its revenue forecast to between $75 million and $85 million. CEO Gayn Erickson downplays the forecast cut during an earnings call, asserting that the company remains optimistic.
• - March 25, 2024: Aehr reveals preliminary Q3 2024 results, with revenue estimates coming in significantly below analyst expectations—$7.6 million compared to a forecast of $14.32 million. The further reduction in the annual outlook to a minimum of $65 million prompts a swift market reaction, resulting in a 22.44% drop in Aehr’s share price.

Legal Implications

The class action lawsuit claims that Aehr and its executives made misleading public statements. Investors allege that they were not informed about the delays in customer orders, which ultimately impacted the company's revenue outlook and deceived shareholders regarding Aehr's actual financial health. Potential plaintiffs have been informed that they can either participate actively in the suit as lead plaintiffs or remain passive class members without affecting their rights to recover losses.

Call to Action for Investors

Investors who believe they have a valid claim are encouraged to act promptly. Faruqi & Faruqi invites anyone with information about Aehr's operations to come forward, including whistleblowers and former employees. The firm operates offices across the United States, with a proven track record of recovering substantial sums for investors since its establishment in 1995. Those seeking more information are directed to visit Faruqi & Faruqi's website for the Aehr class action or contact the firm directly at the provided phone numbers.

The upcoming deadlines associated with this case serve as a critical timeline for investors who have been affected, and proactive steps should be taken to secure individual rights within this federal securities class action.