#USA #New York #Rosen Law Firm #Firsthand Tech #SVVC

Investor Alert: Firsthand Technology Value Fund, Inc. Lawsuit

The Rosen Law Firm, an esteemed entity that advocates for investor rights, is currently reaching out to individuals who purchased shares of Firsthand Technology Value Fund, Inc. (OTC: SVVC) within the period of January 1, 2021, to November 14, 2023. This message serves to inform investors of a significant deadline approaching—May 20, 2025—as they may have the opportunity to act as lead plaintiffs in a securities fraud class action lawsuit.

What You Should Know

If you purchased Firsthand Technology common stock during the specified time frame, you may qualify for compensation without incurring any out-of-pocket costs, thanks to a contingency fee arrangement. This arrangement allows investors to pursue legal claims without the burden of upfront fees, encouraging participation in the legal process to seek justice for alleged shareholder losses.

To become involved in the class action, potential claimants are encouraged to visit the Rosen Law Firm website or to contact attorney Phillip Kim via toll-free phone at 866-767-3653 or through email at pkim@rosenlegal.com for further guidance.

Case Details

The basis of the lawsuit revolves around allegations that the defendants made misleading statements and failed to disclose critical information which resulted in significant financial losses for shareholders. Key points include:
1. Over $200 million in shareholder value was reportedly destroyed by management and service providers associated with the fund.
2. Defendants allegedly inflated the value of the Fund’s remaining investments, employing dubious valuation methodologies that didn't reflect actual asset values, particularly for companies facing failure.
3. These inflated valuations were consequently reflected in the publicly reported net asset value (NAV) of the Fund, misleading investors about its financial health.
4. Consequently, investors buying shares during this Class Period might have been adversely affected by this inflated pricing.

Taking Action

As the legal pursuit progresses, it's critical to note that no class has yet been certified. Until certification, investors who have sustained losses are not represented by the counsel unless they choose to engage with Rosen Law Firm directly. Maintaining an absent status as a class member is an option for those who may wish to remain uninvolved at this point in time.

Joining the lawsuit poses no immediate risks, as the potential recovery from any successful legal endeavors does not rely on serving as the lead plaintiff. Participation and connection with qualified legal counsel are of utmost importance. Investors should diligently choose attorneys with a proven success record, as many firms issuing notices may lack the necessary experience and resources for effective litigation.

About Rosen Law Firm

The Rosen Law Firm is renowned for its commitment to protecting investors across the globe. The firm specializes in securities class actions and shareholder derivative litigation, boasting a track record that includes significant securities class action settlements, especially against foreign corporations. In particular, it was identified as the top firm by ISS Securities Class Action Services in 2017 for the number of settlements achieved and has since continued to stand out in terms of recoveries for investors.

In 2020, co-founder Laurence Rosen was recognized as a pivotal figure in securities litigation by Law360, highlighting the firm's leadership in this niche.

For updates regarding this case, potential plaintiffs are advised to follow the Rosen Law Firm on LinkedIn, Twitter, and Facebook.

This investor alert aims to empower shareholders and protect their rights as the deadline for action approaches. Interested investors should act promptly to ensure their voices are heard within this important legal matter.