An investigation for investors in Intevac, Inc. (NASDAQ: IVAC) shares over potential securities laws violations by Intevac, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 08/11/2023 -- An investigation was announced for investors of Intevac, Inc. (NASDAQ: IVAC) shares over potential securities laws violations by Intevac, Inc. and certain of its directors and officers in connection with certain financial statements was announced.
Investors who purchased shares of Intevac, Inc. (NASDAQ: IVAC), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Intevac, Inc. (NASDAQ: IVAC) concerning whether a series of statements by Intevac, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Santa Clara, CA based Intevac, Inc., together with its subsidiaries, designs and develops thin-film processing systems in the United States, Europe, and Asia.
Intevac, Inc. reported that its annual Total Revenue declined from $38.52 million in 2021 to $35.76 million in 2022, and that its Net Income of $26.62 million in 2021 turned to a Net Loss of $17.07 million in 2022.
On June 13, 2023, Intevac, Inc. disclosed that it had retained the investment banking firm Houlihan Lokey Capital to advise it on strategic alternatives. Intevac's Chief Executive Officer stated that "[t]he ongoing challenges within the hard disk drive industry resulted in the unprecedented cancellation of $54 million in 200 Lean system orders late last month."
Shares of Intevac, Inc. (NASDAQ: IVAC) declined from $7.54 per share on April 11, 2023, to $3.4 per share on July 07, 2023.
Those who purchased shares of Intevac, Inc. (NASDAQ: IVAC) have certain options and should contact the Shareholders Foundation.
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