NEW YORK, May 20, 2025 (GLOBE NEWSWIRE) — Attorney Advertising — Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Firsthand Technology Value Fund, Inc. (“Firsthand Technology” or “the Company”) (OTCMKTS: SVVC) and certain of its officers.
Class Definition
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Firsthand Technology securities between January 1, 2021 and November 14, 2023, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: bgandg.com/SVVC.
Case Details
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the managers and/or service providers of Firsthand Technology destroyed over $200 million in shareholder value; (2) Defendants began inflating the value of Firsthand Technology’s remaining investments to hide further losses by calculating multi-million-dollar valuations, using facially implausible valuation methodologies, for companies that they knew were or were in the process of failing; (3) these fraudulent valuations were integrated into Firsthand Technology’s publicly stated net asset value (“NAV”) and disclosed to investors; and (4) as a result, purchasers of Firsthand Technology’s shares during the Class Period were damaged by significant inflation in the market price caused by the fraudulent NAVs.
What’s Next?
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: bgandg.com/SVVCor you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in Firsthand Technology you have until May 20, 2025, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff.
There is No Cost to You
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.
Why Bronstein, Gewirtz & Grossman
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
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Contact
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller
332-239-2660 | info@bgandg.com
