Investors of Firsthand Technology Value Fund, Inc. Urged to Join Securities Fraud Lawsuit

Investigating Securities Fraud: A Call to Firsthand Technology Investors

In an urgent call to action, the Rosen Law Firm, renowned for its advocacy on behalf of investors, has alerted purchasers of common stock in Firsthand Technology Value Fund, Inc. about the opportunity to lead a significant securities fraud lawsuit. This notice specifically targets investors who acquired shares during the defined Class Period, spanning from January 1, 2021, to November 14, 2023.

What’s At Stake?

If you purchased Firsthand Technology securities within this timeframe, you may be entitled to financial compensation without incurring any out-of-pocket expenses, as the firm operates on a contingency fee basis. This means that you can join the class action without the concern of upfront fees, making it an accessible option for many investors.

Action Steps for Investors

To take part in this legal movement, interested parties should either visit the official Rosen Law Firm website or reach out to their office directly. Lead plaintiff applications must be filed by May 20, 2025, which emphasizes the urgency for those who wish to take on the representative role in this class action. The lead plaintiff serves a crucial function, acting on behalf of all affected parties and driving the case forward.

The Case Details

The securities fraud claims stem from alleged deceptive practices by the managers and service providers of Firsthand Technology Value Fund, Inc. Throughout the Class Period, the lawsuit alleges, these individuals mismanaged the Fund, leading to a staggering loss of over $200 million in shareholder value. The core assertions of the lawsuit include:
1. Inflated Valuations: Defendants allegedly inflated the value of the Fund's remaining investments to mask ongoing losses, using evaluations that did not reflect the true status of the companies involved.
2. Misleading Disclosures: These inflated valuations were incorporated into the Fund's public net asset value (NAV), misleading investors about the actual performance and worth of their shares.
3. Substantial Market Impact: As a result of these actions, investors who purchased shares during the Class Period experienced significant financial damage due to overpriced stock values manipulated by fraudulent NAV calculations.

Why Choose Rosen Law Firm?

The Rosen Law Firm emphasizes the importance of selecting a firm with demonstrated success in securities class action litigations. Many law firms merely act as intermediaries, lacking the necessary experience or commitment when it comes to actually litigating cases. In contrast, the Rosen Law Firm has a strong track record, holding the distinction of achieving the largest-ever securities class action settlement against a Chinese company at the time. They have consistently ranked among the top law firms for securities class action settlements, recovering hundreds of millions of dollars for investors across multiple cases in recent years.

Next Steps and Additional Information

Potential class action members are encouraged to act promptly due to the approaching deadline for lead plaintiff applications. Investors can join the action by visiting Rosen Law Firm's submission page or by contacting Phillip Kim, Esq. toll-free at 866-767-3653 for further guidance.

Keep in mind, as of now, no class has been certified. Until that occurs, individuals wishing to join the lawsuit must either appoint their own counsel or may choose to remain absent from the action. The right to participate in any potential recovery is not dependent on taking up the lead role.

Stay Updated

For continuous updates regarding the case and other developments from the Rosen Law Firm, follow their official pages on social media platforms like LinkedIn, Twitter, and Facebook.

Conclusion

The opportunity for Firsthand Technology investors to join this critical class action lawsuit represents a chance to seek justice and potentially reclaim lost investments. Given the serious nature of the claims and the financial implications for shareholders, swift action will be essential for those interested in participating.