The Schall Law Firm issued a reminder regarding a class action lawsuit against POET Technologies Inc. The lawsuit alleges violations of the Securities Exchange Act between April 1, 2026, and April 27, 2026.
The company allegedly misrepresented its tax status regarding its potential classification as a passive foreign investment company. The lawsuit also claims the company’s CFO violated a business agreement during a public interview.
POET’s stock price plummeted 47.35% on April 27, 2026. This decline followed the cancellation of all purchase orders from Marvell Semiconductor Inc.
The legal action claims the company's prior public statements were materially false and misleading. Investors who purchased securities during the class period must contact the firm by June 29, 2026.