Faruqi & Faruqi, LLP is investigating the claims on behalf of investor Aehr Test Systems by Investing.com

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Faruqi & Faruqi, LLP securities litigation partner James (Josh) Wilson He encourages investors who have suffered losses greater than $50,000 in Aehr to contact him directly to discuss their options

If you have suffered losses greater than $50,000 Aehr between January 9, 2024 and March 24, 2024 and want to discuss your legal rights, call a Faruqi & Faruqi partner Josh Wilson direct on 877-247-4292 or 212-983-9330 (ext. 1310).

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New York, New York–(Newsfile Corp. – January 1, 2025) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Aehr Test Systems, Inc . (“Aehr” or the “Company” “) (NASDAQ: AEHR) and reminds investors of The deadline is February 3, 2025 to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The company has recovered hundreds of millions of dollars for investors since its inception in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose the following: (1) contrary to prior representations to investors, Aehr is still had significant delays in customer orders; (2) the previous issue probably had a significant negative impact on the Company’s revenue growth; (3) accordingly, the business and/or financial prospects of the Company were overestimated; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times.

In October 2023, Aehr provided guidance for its financial results for the full fiscal year 2024. Specifically, the company stated that it expects “total revenue to be at least $100 million, representing growth of over 50% year-over-year[.]”

On January 9, 2024, Aehr lowered its 2024 revenue forecast from $100 million to $75-85 million, citing “a delay in the timing of new orders from current and new customers that will likely impact revenues this fiscal year.” However, defendant Gayn Erickson, the company’s chief executive officer, was quick to downplay the updated forecast on a related earnings call that same day, claiming that the company “took a very conservative stance in the hope that there’s no way we’re going to miss this low, but I see scenarios where we could be taller than [$75-$85 million] scope” and advising investors and analysts that the company had “very good visibility” into its customers’ order patterns.

Then on March 25, 2024, Aehr reported preliminary financial results for the third quarter of 2024. Among other things, the company revealed that its third quarter revenue was estimated at approximately $7.6 million, versus the consensus estimate of $14.32 million, citing delays in orders for wafer-level burn-in systems for semiconductor devices used in electric vehicles that created a short-term gap in revenue and profitability. Additionally, Aehr further cut its 2024 revenue forecast, saying it now expects revenue of at least $65 million, compared to the consensus estimate of $77.43 million.

Following this news, Aehra’s stock price fell $3.29 per share, or 22.44%, to close at $11.37 per share on March 25, 2024.

A court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class, who is adequate and typical of the class members and who directs and oversees the litigation on behalf of the putative class. Any putative class member may propose to the Court to serve as lead plaintiff through counsel of his or her choosing, or may choose to do nothing and remain an absent class member. Your ability to participate in any recovery is not affected by the decision whether or not you will be the lead plaintiff.

Faruqi & Faruqi, LLP also encourages anyone with information about Aehr’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Advertising of lawyers. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Past results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your specific case. All communications will be treated confidentially.

To view the original version of this press release, visit https://www.newsfilecorp.com/release/235673

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