Overview

A class action lawsuit has been filed against POET Technologies, Inc. (“POET” or the “Company”) (NASDAQ: POET) and certain of the Company’s senior executive officers (collectively, “Defendants”), alleging violations of the federal securities laws. The POET lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired POET securities between April 1, 2026, and April 27, 2026, inclusive (the “Class Period”). Investors have until June 29, 2026, to seek appointment as lead plaintiff of the POET class action lawsuit.

POET describes itself as a design and development company focused on photonic integrated packaging solutions for communications, computing, and artificial intelligence applications.

The complaint alleges that Defendants made materially false and misleading statements regarding the Company’s business prospects and regulatory risks. Specifically, Defendants misrepresented the likelihood that the Company would be classified as a passive foreign investment company (“PFIC”) for U.S. tax purposes, while failing to disclose the potential adverse impact such a designation could have on investor demand and the Company’s valuation.

In addition, the complaint alleges that Defendants made misleading statements concerning the Company’s commercial relationships. In particular, Defendants allegedly misrepresented the existence of confidentiality restrictions related to a key customer relationship, while failing to disclose that public statements about the relationship could violate contractual obligations and jeopardize future business.

The truth began to emerge on April 14, 2026, when Wolfpack Research published a report raising concerns that POET likely qualified as a PFIC, exposing U.S. investors to significant tax consequences. On this news, POET stock declined 8%.

The following day, the Company effectively confirmed these concerns by announcing steps to address its PFIC status.

Then, on April 27, 2026, POET disclosed that a key customer, Marvell Semiconductor, had cancelled purchase orders after determining that the Company had violated confidentiality obligations. Following this disclosure, POET’s stock price declined sharply, falling approximately 47%.  

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If you purchased or otherwise acquired POET securities between April 1, 2026 and April 27, 2026, and you wish to serve as lead plaintiff in this lawsuit, you are encouraged to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt attorneys Brian O’Mara and Hani Farah by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as a lead plaintiff in the POET class action lawsuit is June 29, 2026.