POET Technologies Inc. Class Action Lawsuit - POET
Case Summary
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The POET Technologies class action lawsuit seeks to represent purchasers or acquirers of POET Technologies Inc. (NASDAQ: POET) publicly traded securities between April 1, 2026 and 8:57 a.m. EST on April 27, 2026, inclusive (the “Class Period”). Captioned Jones v. POET Technologies Inc., No. 26-cv-04717 (D.N.J.), the POET Technologies class action lawsuit charges POET Technologies and certain of POET Technologies’ top executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the POET Technologies class action lawsuit, please provide your information in the form on this page. You can also contact attorneys Ken Dolitsky or Michael Albert of Robbins Geller by calling 800/851-7783 or via e-mail at info@rgrdlaw.com. Lead plaintiff motions for the POET Technologies class action lawsuit must be filed with the court no later than June 29, 2026.
CASE ALLEGATIONS: POET Technologies, together with its subsidiaries, designs, develops, manufactures, and sells semiconductor products and services for commercial applications.
The POET Technologies class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) POET Technologies misrepresented its tax status due to it likely being deemed a passive foreign investment company under U.S. tax laws which, if not properly reported by each U.S. stockholder, would have negative tax implications for those U.S. stockholders; (ii) the foregoing tax issue would, if discovered, make POET Technologies a less attractive investment than it would otherwise be, thus threatening POET Technologies’ valuation; and (iii) defendant Thomas Mika, despite affirming that he was not violating a non-disclosure agreement, in fact violated a business agreement by speaking about POET Technologies’ business agreements in a public interview, thus endangering POET Technologies’ business prospects.
The POET Technologies class action lawsuit further alleges that on April 14, 2026, Wolfpack Research published a report titled “We Believe POET Is A Obvious Stock Promote, Has Created An IRS Nightmare: US Holders Have Until April 15th To Act,” which alleged that “POET set US investors on a collision course with the IRS by accumulating so much cash through dilution, and generating so little operating revenue that our analysis, corroborated by multiple experts, shows they qualify as a Passive Foreign Investment Company—or a PFIC.” On this news, the price of POET Technologies stock fell more than 8%, according to the complaint.
Then, on April 27, 2026, the POET Technologies class action lawsuit further alleges that POET Technologies revealed that POET Technologies “today announced the cancellation of all purchase orders received by [POET Technologies] from Celestial AI, including the ones for initial production units first disclosed (the “Purchase Orders”) by [POET Technologies] in a press release on April 25, 2023. Marvell Semiconductor Inc., which acquired Celestial AI, provided written notice of the cancellation to [POET Technologies] on April 23, 2026. As the basis for the cancellation, Marvell indicated that [POET Technologies] had made disclosures of information related to the Purchase Order and shipping information in contravention of its confidentiality obligations.” On this news, the price of POET Technologies stock fell more than 47%, according to the complaint.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired POET Technologies publicly traded securities during the Class Period to seek appointment as lead plaintiff in the POET Technologies class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the POET Technologies class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the POET Technologies class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the POET Technologies class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud and shareholder rights litigation. Our Firm ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report, recovering more than $916 million for investors in 2025. This marks our fourth #1 ranking in the past five years. And in those five years alone, Robbins Geller recovered $8.4 billion for investors – $3.4 billion more than any other law firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig.