Investors Target Firsthand Technology in Class Action Securities Lawsuit
LOS ANGELES, April 24, 2025 /PRNewswire/ — The Schall Law Firm has announced a class action lawsuit against Firsthand Technology Value Fund, Inc. (“Firsthand Technology” or “the Company”) SVVC. The lawsuit cites violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 set forth by the U.S. Securities and Exchange Commission.
Who Should Participate?
Investors who acquired the Company’s securities from January 1, 2021 to November 14, 2023 are encouraged to take action before May 20, 2025.
How to Get Involved
Shareholders who suffered losses can join the case to recover damages. For further information, investors can contact Brian Schall at the Schall Law Firm, located at 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, either by calling 310-301-3335 or through the firm’s website at www.schallfirm.com.
Legal Status
The class in this lawsuit has not yet been certified. Until such certification occurs, potential participants are not represented by an attorney. If no action is taken, individuals can choose to remain as absent class members.
Allegations Against Firsthand Technology
According to the Complaint, Firsthand Technology allegedly made false statements that misled investors. The management team and service providers reportedly caused a loss exceeding $200 million in shareholder value. They allegedly hid failing investments by manipulating accounting practices, resulting in inflated valuations reflected in the Fund’s net asset value (“NAV”). Investors relied on this misleading NAV when making investment decisions. As the truth about Firsthand Technology emerged, many investors experienced financial losses.
Join the Legal Action
All affected investors are encouraged to join this case to seek recovery for their losses.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
View original content to download multimedia: here.
SOURCE The Schall Law Firm
