POET Shareholder Alert: POET Technologies Inc. Securities Class Action Lawsuit - Investors With Losses May Contact Levi & Korsinsky
NEW YORK, May 11, 2026 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP alerts investors in POET Technologies Inc. (NASDAQ: POET) of a pending securities class action. Class Period: April 1, 2026 through April 27, 2026. Check if you can recover your investment losses or contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com | (212) 363-7500.
POET shares lost $7.15 per share, a 47.3% collapse, after the Company revealed that its largest customer cancelled all purchase orders. The lead plaintiff deadline is June 29, 2026.
How Confidential Information Allegedly Reached the Public
The lawsuit asserts that during an April 21, 2026 interview published on YouTube by Stocktwits, management publicly identified the Company's customer relationship with Celestial AI and its acquirer, disclosed the existence of an outstanding invoice, and stated that product shipments were expected "this year" and "next quarter." When asked directly whether the Company was under a non-disclosure agreement with a hyperscaler, the response allegedly mischaracterized the scope of confidentiality obligations. According to the action, this public airing of purchase order details and shipping timelines directly violated contractual confidentiality provisions.
Why Confidentiality Allegedly Matters to POET Investors
The securities action claims that the consequences were swift and severe:
- Marvell Semiconductor Inc. provided written notice on April 23, 2026 that the Company had breached its confidentiality obligations
- The breach specifically cited disclosures of purchase order and shipping information made during the public interview
- All purchase orders from Celestial AI were cancelled, including initial production units first disclosed in April 2023
- The Company had generated only $2.3 million in total revenue since 2020, making the loss of this customer relationship particularly damaging
- Shares outstanding had increased 303% from late 2022 to early 2026, meaning diluted shareholders bore the full impact of the business loss
- The stock fell from a Class Period high of $15.10 to $7.95 following the cancellation announcement
The NDA Breach and Its Business Consequences
As alleged in the complaint, management was asked on camera whether an NDA existed with a hyperscaler. The response indicated that NDAs existed with "suppliers to hyperscalers" but then proceeded to identify the specific customer, the product being supplied, invoice details, and an expected shipping timeline. The action contends this disclosure pattern was itself the breach that triggered cancellation of the Company's most significant commercial relationship.
"Investors deserve transparency about material risks that could affect their investments. When confidential business relationships are allegedly compromised through public statements by senior officers, the resulting harm to shareholders can be substantial and immediate." — Joseph E. Levi, Esq.
Speak with an attorney about recovering damages or call (212) 363-7500.
WHY LEVI & KORSINSKY — Ranked in ISS Securities Class Action Services' Top 50 Report for seven consecutive years, Levi & Korsinsky, LLP is a nationally recognized leader in shareholder rights litigation. With a team of over 70 professionals, the firm has recovered hundreds of millions of dollars for investors. The Court has set June 29, 2026 as the deadline to apply for lead plaintiff appointment.
Frequently Asked Questions About the POET Lawsuit
Q: Who is eligible to join the POET investor lawsuit? A: Investors who purchased POET stock or securities between April 1, 2026 and April 27, 2026 and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses, not on whether you still hold the shares.
Q: How much did POET stock drop? A: Shares fell approximately 47.3%, a decline of $7.15 per share, after the Company disclosed the cancellation of all purchase orders from Celestial AI following an alleged NDA breach. Investors who purchased shares during the class period at artificially inflated prices may be entitled to compensation.
Q: What specific misstatements does the POET lawsuit allege? A: The complaint alleges POET made materially false or misleading statements regarding its confidentiality obligations and the security of its key customer relationships during the class period. When the true state was revealed, the stock price declined sharply.
Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.
Q: What if I already sold my POET shares — can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the class period and sold at a loss may still participate.
Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.
Q: What if I missed the lead plaintiff deadline? A: The deadline applies only to investors seeking lead plaintiff appointment. Class members who miss it can still participate in any settlement or recovery.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
Tel: (212) 363-7500
Fax: (212) 363-7171
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