Vicor responds to allegations made in securities litigation

Vicor Corporation disclosed facts that formed the basis for forward-looking statements about an expected revenue ramp, made in the company’s July 25, 2023 Earnings Call, that were alleged to be untrue in recently-filed securities litigation against the company. These statements were true when made on the basis of the facts outlined below, Vicor said in a statement. “As of July 25, 2023, the company had booked over $30M in Non-Cancellable, Non-Returnable orders from a significant customer reflecting what the Company understood to be the Customer’s allocation for a new program to the Company. Subsequent to the July 25, 2023 Earnings Call while continuing to honor the NCNR Orders, the Customer changed its allocation for the New Program, as the Company indicated in its forward-looking statements made in subsequent Earnings Calls. Accordingly, the Company’s statements on July 25, 2023 were truthful and properly represented its reasonable expectations at the time.”