POET Technologies Promised Imminent Product Shipments to Celestial AI — Then Lost Every Purchase Order When Its CFO’s Public Statements Breached Confidentiality, Costing Investors $7.15 Per Share
NEW YORK, May 18, 2026 (GLOBE NEWSWIRE) — Levi & Korsinsky, LLP highlights the contrast between POET Technologies Inc.’s (NASDAQ: POET) promises to investors and the reality that followed. Shareholders who purchased POET securities between April 1, 2026 and April 26, 2026, and lost money may be entitled to compensation. Find out if you qualify to recover your losses or contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.
POET shares collapsed 47.3%, losing $7.15 per share, after the Company disclosed that every purchase order from its key customer had been canceled. The lead plaintiff deadline is June 29, 2026.
The Promise
On April 21, 2026, during a public interview on Stocktwits’ YouTube channel, the Company’s chief financial officer told investors that POET held an invoice from Celestial AI and was “intending to ship product against” it. He specified that shipments would occur “this year” and that he believed “some of it will be shipped next quarter.” He further characterized POET as “a supplier to Marvell now that they’ve acquired Celestial AI,” painting a picture of an active, revenue-generating commercial relationship with a major semiconductor acquirer.
The Reality
Six days later, on April 27, 2026, POET disclosed that Marvell Semiconductor Inc. had canceled all purchase orders from Celestial AI. The reason: the Company had “made disclosures of information related to the Purchase Order and shipping information in contravention of its confidentiality obligations.” The very statements used to reassure investors about near-term revenue directly caused the destruction of that revenue.
The Numbers: Promised vs. Actual
- Promised: Imminent product shipments against an existing Celestial AI invoice, with revenue expected “next quarter”
- Actual: Complete cancellation of all purchase orders
- Promised: Active supplier status to Marvell/Celestial AI, described as a multi-year customer relationship
- Actual: Marvell terminated the deal, citing confidentiality violations triggered by the CFO’s own public remarks
- Promised: Light source market opportunity “isn’t fully reflected in our market cap”
- Actual: Market cap lost nearly half its value in a single trading session as the gap between promise and reality was exposed
- Stock before disclosure: $15.10 per share (April 24, 2026 closing price)
- Stock after disclosure: $7.95 per share (April 27, 2026 closing price)
What the Lawsuit Alleges About the Gap
The securities action contends that the executive’s public statements were materially false and misleading because he denied being subject to a non-disclosure agreement with Marvell when he was in fact bound by one. The complaint also alleges that POET misrepresented its tax status as a Passive Foreign Investment Company (PFIC), which carries adverse tax consequences for U.S. investors. By publicly disclosing purchase order details, shipping timelines, and customer identity, he allegedly breached confidentiality obligations that directly resulted in the cancellation of POET’s most significant commercial relationship. Investors who relied on these forward-looking revenue promises purchased shares at artificially inflated prices.
Start your recovery claim before the June 29 deadline or call Joseph E. Levi, Esq. at (212) 363-7500.
“Companies that make specific promises to investors about future performance have an obligation to disclose known risks to those projections. When a CFO tells the market that shipments are imminent while allegedly violating the very agreement that makes those shipments possible, investors deserve accountability,” stated Joseph E. Levi, Esq.
LEAD PLAINTIFF DEADLINE: June 29, 2026
Calculate your potential per-share recovery in the POET action or contact (212) 363-7500.
Levi & Korsinsky, LLP is a nationally recognized shareholder rights firm. Over the past 20 years, the firm has secured hundreds of millions of dollars for aggrieved shareholders. Ranked in ISS Top 50 for seven consecutive years.
Frequently Asked Questions About the POET Lawsuit
Q: What specific misstatements does the POET lawsuit allege? A: The complaint alleges POET’s CFO made materially false or misleading statements during an April 21, 2026 public interview regarding the Company’s supplier relationship with Marvell/Celestial AI, imminent product shipments, and the existence of confidentiality obligations. When Marvell canceled all purchase orders due to these disclosures, shares fell 47.3%.
Q: How much did POET stock drop? A: Shares fell approximately 47.3%, a decline of $7.15 per share, after the Company disclosed on April 27, 2026 that all Celestial AI purchase orders had been canceled due to confidentiality breaches. Investors who purchased during the class period at inflated prices may be entitled to compensation.
Q: What do POET investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at [email protected] or (212) 363-7500. No immediate action is required to remain eligible as a class member.
Q: What if I already sold my POET shares — can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the class period and sold at a loss may still participate.
Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. You submit a claim form to receive your portion of recovery.
Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.
Q: Can I join a different law firm’s lawsuit instead? A: Multiple firms often file competing complaints. The court consolidates and appoints a single lead counsel. Contacting Levi & Korsinsky before June 29, 2026 ensures your losses are considered.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
