Skyworks(SWKS) GlobeNewswire News Room·2025-03-10 17:12Core Viewpoint - A class action securities lawsuit has been filed against Skyworks Solutions, Inc. due to alleged securities fraud that negatively impacted investors between July 30, 2024, and February 5, 2025 [1][2]. Group 1: Lawsuit Details - The lawsuit aims to recover losses for investors affected by the alleged fraud, which involved misleading statements about Skyworks' expected revenue for fiscal year 2025 [2]. - Defendants expressed confidence in Skyworks' ability to grow its mobile business and diversify its offerings through new technology investments [2]. - On February 5, 2025, Skyworks reported financial results for Q1 of fiscal year 2025, revealing lower-than-expected revenue guidance for Q2, attributing this to an intensified competitive landscape [2]. Group 2: Stock Price Impact - Following the announcement of disappointing financial results and guidance, Skyworks' stock price plummeted from 65.60 per share on February 6, 2025, marking a decline of over 24% in one day [2]. Group 3: Next Steps for Investors - Investors who suffered losses during the specified timeframe have until May 5, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require this role [3]. - Class members may be entitled to compensation without incurring any out-of-pocket costs or fees [3]. Group 4: Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [4]. - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the U.S. [4].