NEW YORK, NY / ACCESSWIRE / October 13, 2023 / Pomerantz LLP is investigating claims on behalf of investors of Tigo Energy, Inc. ("Tigo" or the "Company") (NASDAQ:TYGO). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Tigo and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On October 9, 2023, Tigo issued a press release announcing preliminary financial results for its fiscal third quarter. Among other items, Tigo reported that "revenue is now expected to be in the range of $17 to $18 million, compared to Tigo's previous expectation of $41 to $45 million. Backlog, which reflects contracted orders expected to be filled within the next twelve months, is expected to be within the range of $66 to $68 million as of the end of the third quarter of 2023. Tigo expects to report an adjusted EBITDA loss for the fiscal third quarter of 2023 but is unable to estimate such an amount until it completes its quarter-end financial close process." On this news, Tigo's stock price fell sharply during intraday trading on October 9, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP
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