According to the Complaint, Semtech is a semiconductor, digital systems and cloud connectivity service provider. It designs, manufactures, and markets an array of products for commercial applications, the majority of which are sold into the infrastructure, high end consumer and industrial end markets. The Company’s portfolio includes integrated circuits, modules, gateways, routers, and other specialized products. Its portfolio includes CopperEdge products, which can be used in active copper cables. This class action was filed against Semtech and two of its Officers.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors: (1) that its CopperEdge products did not meet the needs of its server rack customer or end users; (2) that, as a result, the CopperEdge products required certain rack architecture changes; (3) that, as a result of the foregoing, the Company’s sales of CopperEdge products would not ramp-up during fiscal 2026; (4) that, as a result, sales of CopperEdge products would be lower-than-expected; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On June 9, 2025, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. All future docketing was ordered to be done in the Lead Case 25-CV-01474.

Lead Plaintiff filed a Consolidated Complaint on July 14, 2025.