Faruqi & Faruqi, LLP Securities Litigation Partners James (Josh) Wilson Urges Investors Suffering Losses Greater Than $50,000 With Aehr To Contact Him Directly To Discuss Their Options

If you suffer losses in excess of $50,000 in Ahh 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 19, 2025) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating a potential claim against Aehr Test Systems, Inc . (“Aehr” or the “Company”) (NASDAQ: AEHR) and reminds investors of February 3, 2025 deadline to seek the role of lead plaintiff in a federal securities class action filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding 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 that: (1) contrary in earlier representations to investors, Aehr continued to experience multiple delays. of customer orders; (2) the foregoing issue is likely to have a material negative impact on the Company’s revenue growth; (3) accordingly, the Company’s business and/or financial prospects are overstated; 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 full fiscal year 2024 financial results. Specifically, the Company said it expects “total revenue to be at least $100 million, representing growth of more than 50% annually(.)”

On January 9, 2024, Aehr cut its 2024 revenue forecast from $100 million to $75-$85 million, citing “a time lag in new orders from current and new customers that are likely to affect revenue this fiscal year.” However, the Company’s Chief Executive Officer, Defendant Gayn Erickson, quickly downplayed the significance of the updated forecast in a related earnings call the same day, claiming that the Company “made a conservative stance in the hope that there is no way we will miss the low end, but I can see scenarios where we will be higher than the ($75-$85 million) range” and advises investors and analysts. that the Company has “excellent visibility” into its customers’ order patterns.

Then, on March 25, 2024, Aehr announced its preliminary fiscal Q3 2024 financial results. Among other things, the Company revealed that Q3 revenue was estimated at approximately $7.6 million, compared to a consensus of $14.32 million, citing delays in the level of wafer burn-in orders in system for semiconductor devices used in electric vehicles that created a short term. income gap and profit. Additionally, Aehr cut its 2024 revenue forecast, saying it now expects revenue of at least $65 million versus a consensus of $77.43 million.

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

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is substantially and generally among the class members managing and managing the litigation on behalf of the purported class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain a non-class member. Your ability to share in any recovery is not affected by the decision to serve as lead plaintiff or not.

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

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To view the original version of this press release, please visit https://www.newsfilecorp.com/release/237448