Semiconductor Test Supplier Aehr Sued Over Revenue Dip, Selloff

Aehr Test Systems Inc. misled investors about its projected revenue growth, spurring a 22% selloff after releasing a dimmed forecast for the third fiscal quarter of this year, an investment fund alleges in a proposed class action.

Aehr Test Systems, a semiconductor test and burn-in equipment supplier, along with two top chief leaders allegedly made misleading statements that its total revenue for 2024 fiscal year would reach at least $100 million, which was later cut to $65 million, causing damages to investors, Lucid Alternative Fund said in its lawsuit filed Tuesday.

In October 2023, Aehr Test projected that its total ...