Credo Technology Group Holding Ltd. (CRDO)

Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of investors of Credo Technology Group Holding Ltd. (“Credo” or “the Company”) (NASDAQ: CRDO). Credo investors are encouraged to obtain additional information and assist the investigation. 

The investigation concerns whether Credo violated federal securities laws.

On February 14, 2023, Credo disclosed in a filing with the U.S. Securities and Exchange Commission that its “largest customer has reduced its demand forecast for certain Credo products for reasons Credo understands are unrelated to Credo’s performance.”  As a result, the Company said it expects fiscal fourth quarter revenue, ending April 29, 2023, to be in the range of $30 million to $32 million.  This projection reflects a significant decline in revenues compared to second fiscal quarter revenue of $51.4 million and prior expectations for third fiscal quarter revenue of $54 million to $56 million, which has not yet been reported.  On this news, Credo’s stock price fell $9.06 per share, or 46.8%, to close at $10.30 per share on February 15, 2023.

If you are aware of any facts relating to this investigation or purchased Credo shares, you can assist this investigation by contacting the firm. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484. 

Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits.  The firm has recovered hundreds of millions of dollars for investors nationwide.  Attorney advertising. Prior results do not guarantee similar outcomes.