LOS ANGELES–(BUSINESS WIRE)–Mar 5, 2025–
The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of investors who purchased Skyworks Solutions, Inc. (“Skyworks” or the “Company”) (NASDAQ: SWKS ) securities between July 30, 2024 to February 5, 2025, inclusive (the “Class Period”). Skyworks investors have until May 5, 2025 to file a lead plaintiff motion.
You can also contact the Law Offices of Frank R. Cruz to discuss your legal rights by email at [email protected], by telephone at (310) 914-5007, or visit our website at www.frankcruzlaw.com.
What Happened?
On February 5, 2025, Skyworks released its first quarter 2025 financial results, reporting a greater than anticipated decline in quarterly revenue and providing lower guidance for the second quarter than expected. The Company attributed the results to a “competitive landscape” that had “intensified” in recent years.
On this news, Skyworks’ stock price fell $21.48, or 24.7%, to close at $65.60 per share on February 6, 2025, thereby injuring investors.
What Is The Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) 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; (2) Defendants oversold Skyworks’ position and ability to capitalize on AI in the smartphone upgrade cycle; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased or otherwise acquired Skyworks securities during the Class Period, you may move the Court no later than May 5, 2025 to request appointment as lead plaintiff in this putative class action lawsuit.
Contact Us To Participate or Learn More:
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us at:
Law Offices of Frank R. Cruz
2121 Avenue of the Stars, Suite 800
Telephone: 310-914-5007
Email: [email protected]
Visit our website at: www.frankcruzlaw.com
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com:https://www.businesswire.com/news/home/20250305406605/en/
CONTACT: The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz
310-914-5007
[email protected]
www.frankcruzlaw.com
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: CLASS ACTION LAWSUIT PROFESSIONAL SERVICES LEGAL
SOURCE: The Law Offices of Frank R. Cruz
Copyright Business Wire 2025.
PUB: 03/05/2025 12:12 PM/DISC: 03/05/2025 12:13 PM
http://www.businesswire.com/news/home/20250305406605/en