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POET SHAREHOLDER ALERT: Securities Fraud Lawsuit Filed on Behalf of POET Technologies Inc. Investors - Contact Kirby McInerney LLP by June 29, 2026
NEW YORK, May 08, 2026 (GLOBE NEWSWIRE) -- Kirby McInerney LLP reminds investors who purchased POET Technologies Inc. (“POET” or the “Company”) (NASDAQ:POET) securities to contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests in the securities fraud class action lawsuit at no cost.
If you suffered a loss on your POET investments, you have until June 29, 2026 to request lead plaintiff appointment. Courts do not consider lead plaintiff applications submitted after this deadline. The lead plaintiff oversees the litigation on behalf of the class and may influence key decisions, including litigation strategy and settlement. Courts regularly appoint individual investors as lead plaintiffs, not only institutions.
Follow the link below for more information about the lawsuit:
[CONTACT THE FIRM IF YOU SUFFERED A LOSS]
What Is The Lawsuit About?
The lawsuit has been filed on behalf of investors who purchased securities during the period of April 1, 2026 through April 27, 2026, inclusive (“the Class Period”). The lawsuit alleges that (1) POET Technologies misrepresented its tax status due to it likely being deemed as a passive foreign investment company (“PFIC”) under U.S. tax laws which, if not properly reported by each U.S. stockholder, would have negative tax implications; (2) the foregoing tax issue would, if discovered, make POET a less attractive investment than it would otherwise be, thus threatening POET’s valuation; and (3) Defendant Thomas Mika (the Company’s Executive Vice President and CFO), despite affirming that he was not violating a non-disclosure agreement, in fact violated a business agreement by speaking about POET business agreements in a public interview, thus endangering POET business prospects.
On April 14, 2026, Wolfpack Research issued a report entitled “We Believe POET is An Obvious Stock Promote, Has Created An IRS Nightmare: US Holders Have Until April 15th To Act.” The release state 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, show they qualify as a Passive Foreign Investment Company—or a PFIC” which would make the stack an unattractive investment to investors. On this news, the price of POET shares declined by $0.59 per share, or approximately 8%, from $7.30 per share on April 13, 2026 to close at $6.71 on April 14, 2026.
On April 27, 2026, the Company issued a press release entitled “POET Technologies Provides Purchase Order Update.” The release disclosed “the cancellation of all purchase orders received by the Company from Celestial AI, including the ones for initial production units first disclosed by the Company in a press release on April 25, 2023. Marvell Semiconductor Inc., which acquired Celestial AI, provided written notice of the cancellation to the Company on April 23, 2026. As the basis for the cancellation, Marvell indicated that the Company 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 shares declined by $7.15 per share, or approximately 47.4%, from $15.10 per share on April 24, 2026 to close at $7.95 on April 27, 2026.
[CLICK HERE TO LEARN MORE ABOUT THE CLASS ACTION]
What Should I Do?
If you purchased or otherwise acquired POET securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.
[HOW CAN I PROTECT MY RIGHTS?]
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Kirby McInerney LLP
Lauren Molinaro, Esq.
212-699-1171
https://www.kmllp.com
https://securitiesleadplaintiff.com/
investigations@kmllp.com
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