The Law Offices of Frank R. Cruz Announces Investigation of Aehr Test Systems, Inc. (AEHR) on Behalf of Investors
The Law Offices of Frank R. Cruz Announces Investigation of Aehr Test Systems, Inc. (AEHR) on Behalf of Investors
LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Aehr Test Systems, Inc. (“Aehr” or the “Company”) (NASDAQ: AEHR) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On March 25, 2024, Aehr released its preliminary third quarter fiscal 2024 financial results, revealing that the Company expected revenue to be approximately $7.6 million, significantly missing consensus estimates of $14.3 million, citing delays in wafer level burn-in system orders for semiconductor devices used in electric vehicles that have created a short-term gap in revenue and profitability. Further, the Company lowered its 2024 revenue forecast by approximately $12 million.
On this news, Aehr’s stock price fell $3.29, or 22.4%, to close at $11.37 per share on March 25, 2024, thereby injuring investors.
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If you purchased Aehr securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
