The legal action centers on claims that POET Technologies misled the market by failing to disclose its status as a passive foreign investment company. This omission carried significant tax risks for shareholders. Furthermore, the complaint highlights a public interview given by CFO Thomas Mika, which allegedly breached a key business agreement and compromised the company’s commercial standing.

Shareholders seeking to participate in the litigation must act before the June 29, 2026, deadline. Brian Schall of the Los Angeles-based firm is currently coordinating with affected investors to discuss potential recovery. As the class has not yet been certified, those who held shares during the specified period remain absent members unless they take formal steps to join the proceedings.