The legal action centers on the company’s May 28, 2026, financial disclosures, which revealed a sharp 11% sequential drop in IC revenue. Management attributed the missed projections to failed seasonal recovery, citing product launch delays and geopolitical instability. This announcement wiped out $19.49 per share, leaving the stock at $34.02. Pomerantz LLP is currently soliciting inquiries from shareholders who acquired securities during the affected period to represent the class in the litigation.