Pomerantz LLP is investigating claims on behalf of investors of Silvaco Group, Inc. ("Silvaco" or the "Company") SVCO. Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Silvaco and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On or around May 8, 2024, Silvaco conducted its initial public offering ("IPO") of 6 million shares priced at $19.00 per share.
Then, on October 15, 2024, Silvaco issued a press release announcing preliminary unaudited revenue results for the third quarter of 2024 and updated its outlook for the full year 2024. Among other items, Silvaco lowered its full year revenue guidance to a range of $60 million to $63 million, compared to previous guidance of $63 million to $66 million, and lowered its year-over-year growth projection to a range of 10% to 16%, compared to previous guidance of 16% to 22%.
On this news, Silvaco's stock price fell $3.61 per share, or 32.64%, to lose at $7.45 per share on October 16, 2024.
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