Investors Encouraged to Lead Securities Fraud Case Against Firsthand Technology Value Fund, Inc.

Investors Take Action Against Firsthand Technology Value Fund, Inc.

The Schall Law Firm, a prominent firm specializing in shareholder rights litigation, has recently alerted investors about a class action lawsuit against Firsthand Technology Value Fund, Inc. This legal action stems from allegations that the company violated key provisions of the Securities Exchange Act of 1934, specifically §§10(b) and 20(a), along with Rule 10b-5 established by the U.S. Securities and Exchange Commission (SEC).

Background of the Case

The class period relevant to this lawsuit spans from January 1, 2021, to November 14, 2023. Investors who acquired Firsthand Technology's securities during this timeframe are encouraged to reach out to the Schall Law Firm before the deadline of May 20, 2025. This initiative seeks to assist those who have experienced financial losses due to alleged misrepresentations made by the company.

The complaint lodged against Firsthand Technology states that the company provided misleading and false statements that obscured the true nature of its financial situation. As a result, the company reportedly destroyed over $200 million in shareholder value. Notably, the complaint points out that Firsthand Technology used questionable accounting practices to inflate the perceived value of the Firsthand Technology Value Fund by concealing the reality of its failing investments. This manipulation involved embedding false valuations in the fund's publicly announced net asset value (NAV), which investors relied upon when making financial decisions.

Legal Implications and Actions

Investors who faced losses due to these deceptive practices can join the case backed by the Schall Law Firm. Brian Schall, a lawyer at the firm, is urging affected shareholders to act promptly. Potential participants may contact the law firm directly at their Los Angeles office for a no-cost consultation regarding their rights in this matter. The lawsuit has yet to receive class certification, meaning that until this occurs, investors will not be officially represented unless they take action.

Why You Should Join

For those impacted by Firsthand Technology's alleged misdeeds, joining the lawsuit represents an opportunity to recover lost funds. With the help of the Schall Law Firm, investors could play a pivotal role in holding the company accountable for its actions. The firm has a successful record representing investors worldwide in similar cases, reinforcing the prospect of achieving a favorable outcome for those involved.

Steps to Participate

To participate in the class action, individuals need to contact the Schall Law Firm before the designated deadline. Interested shareholders can do this through various means, including calling their office, visiting their website, or emailing them directly. By joining the class, investors can collectively seek justice and potentially reclaim their financial losses stemming from this situation.

In conclusion, the allegations against Firsthand Technology Value Fund, Inc. represent a significant moment for investors. With the Schall Law Firm leading the charge, those affected have a chance to have their voices heard and their losses addressed. If you are an investor who purchased shares during the specified period, now is the time to take action and explore your legal rights.