Class Action Filed Against Firsthand Technology Value Fund by Investors

NEW YORK, April 18, 2025 /PRNewswire/ — Attorney Advertising — Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, has announced that a class action lawsuit has been filed against Firsthand Technology Value Fund, Inc. (“Firsthand Technology” or “the Company”) SVVC and several of its executives.

Class Definition

This lawsuit seeks to recover damages related to alleged violations of federal securities laws. The claim is on behalf of all individuals and entities that purchased or acquired Firsthand Technology securities from January 1, 2021 to November 14, 2023, inclusive (the “Class Period”). Investors interested in joining the action can visit the firm’s site: bgandg.com/SVVC.

Case Details

The Complaint alleges that during the Class Period, the defendants made numerous false and/or misleading statements. It also claims that they failed to disclose critical information, including: (1) the managers or service providers of Firsthand Technology are believed to have destroyed over $200 million in shareholder value; (2) they inflated the value of Firsthand Technology’s remaining investments to conceal additional losses, using improbable valuation methodologies and applying multi-million-dollar valuations to companies that were failing; (3) these fraudulent valuations were reflected in Firsthand Technology’s publicly stated net asset value (“NAV”) and shared with investors; and (4) as a result, investors who purchased shares during the Class Period experienced a significant market price inflation due to the misleading NAVs.

Next Steps for Investors

A class action lawsuit is already in motion. If you wish to read the Complaint, please visit the firm’s site: bgandg.com/SVVC. For inquiries, contact Peretz Bronstein, Esq. or Nathan Miller, Client Relations Manager at Bronstein, Gewirtz & Grossman, LLC, at 332-239-2660. Shareholders who suffered losses in Firsthand Technology have until May 20, 2025, to request the Court appoint them as lead plaintiff. Note that participating in any potential recovery does not require serving as the lead plaintiff.

No Upfront Costs

The firm operates on a contingency fee basis when representing investors in class action lawsuits. This means that they will seek reimbursement for out-of-pocket expenses and attorneys’ fees, typically a percentage of the total recovery, only if the case is successful.

Why Choose Bronstein, Gewirtz & Grossman?

Bronstein, Gewirtz & Grossman, LLC is well-known for representing investors in securities fraud class actions and shareholder derivative suits, having recovered hundreds of millions of dollars for clients nationwide.

For updates, follow us on LinkedIn, X, Facebook, or Instagram.

Attorney advertising. Past results do not guarantee similar outcomes.

Contact Information

Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Nathan Miller

332-239-2660 | [email protected]

View original content to download multimedia: https://www.prnewswire.com/news-releases/svvc-investor-alert-bronstein-gewirtz–grossman-llc-announces-that-firsthand-technology-value-fund-inc-investors-with-substantial-losses-have-opportunity-to-lead-class-action-lawsuit-302431098.html

SOURCE Bronstein, Gewirtz & Grossman, LLC