POET Technologies Faces Securities Class Action Over April Customer Loss Disclosure
POET Technologies Inc. (NASDAQ: POET) is defending a federal securities class action covering April 1–27, 2026, after shares fell 47.3% when Marvell Semiconductor canceled all orders citing confidentiality breaches.
Technologies Inc. (NASDAQ: ) faces a pending federal securities class action lawsuit covering investors who held shares between April 1 and April 27, 2026, after the company disclosed that its largest customer canceled all purchase orders, erasing nearly half the stock's value in a single session [2].
The suit alleges materially false and misleading statements during the class period, which ended April 27 when revealed that Marvell Semiconductor had canceled all orders due to breaches in confidentiality obligations [2]. Shares collapsed $7.15 per share, a 47.3% decline, following the disclosure [3]. The company had not previously indicated any risk to the customer relationship or potential contractual violations during the three-and-a-half-week window.
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