Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $75,000 In Skyworks To Contact Him Directly To Discuss Their Options
If you suffered losses exceeding $75,000 in Skyworks between July 30, 2024 and February 5, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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NEW YORK, March 04, 2025 (GLOBE NEWSWIRE) — Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Skyworks Solutions, Inc. (“Skyworks” or the “Company”) (NASDAQ: SWKS) and reminds investors of the May 5, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been 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.
According to the complaint, defendants provided investors with material information concerning Skyworks’ expected revenue for the fiscal year 2025. Defendants’ statements included, among other things, confidence in the Skyworks’ ability to expand its mobile business and capitalize on its growth potential by investing in new technologies to diversify its portfolio of offerings. Defendants provided these overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of Skyworks’ client base; notably, that its long-standing relationship with Apple, its largest customer, did not guarantee that Apple would maintain its business relationship with Skyworks for its anticipated iPhone launch. Additionally, Defendants oversold Skyworks’ position and ability to capitalize on AI in the smartphone upgrade cycle. Such statements absent these material facts caused Plaintiff and other shareholders to purchase Skyworks’ securities at artificially inflated prices.
On February 5, 2025, after market close, Skyworks announced its financial results for the first quarter of fiscal year 2025 and provided lower-than anticipated revenue guidance for the second quarter of fiscal year 2025. The Company attributed its results and low guidance to a “competitive landscape” that had “intensified” in recent years. Following this news, the price of Skyworks’ common stock declined dramatically. From a closing market price of $87.08 per share on February 5, 2025, Skyworks’ stock price fell to $65.60 per share on February 6, 2025, a decline of over 24% in the span of just a single day.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative 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 an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Skyworks’ conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the Skyworks Solutions, Inc. class action, go to www.faruqilaw.com/SWKS or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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