NEW YORK--(BUSINESS WIRE)--Apr 29, 2026--
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against POET Technologies, Inc. (“POET Technologies” or the “Company”) (NASDAQ: POET) and reminds investors of the June 29, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
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Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) POET Technologies misrepresented its tax status due to it likely being deemed a passive foreign investment company (or “PFIC”) 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; (2) the foregoing tax issue would, if discovered, make POET Technologies a less attractive investment than it would otherwise be, thus threatening POET Technologies’ valuation; (3) 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, and (4) as a result, defendants’ statements about POET Technologies’ business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On April 27, 2026, Investing.com published an article entitled "POET Technologies stock tumbles after losing Marvell orders." The article stated that POET Technologies stock fell "after the company disclosed the cancellation of all purchase orders from Celestial AI, now owned by Marvell Semiconductor Inc. Marvell provided written notice on April 23, 2026, canceling all purchase orders, including those for initial production units first announced by POET Technologies in a press release on April 25, 2023. Marvell cited the company's disclosures of information related to the purchase orders and shipping details as violations of confidentiality obligations."
Following this news, POET Technologies' stock dropped more than 45% during intraday trading on April 27, 2026.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding POET Technologies’ conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the POET Technologies class action, go to www.faruqilaw.com/POET or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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POET DEADLINE ALERT: Faruqi & Faruqi, LLP Reminds POET Technologies (POET) Investors of Securities Class Action Deadline on June 29, 2026
WASHINGTON (AP) — Wednesday will likely be a momentous day for the future of the Federal Reserve as Chair Jerome Powell could signal he will stay with the Fed even as a Senate panel is expected to confirm his replacement.
Powell will preside over what will probably be his last meeting as chair and hold a news conference Wednesday afternoon, when he may say whether he will take the unusual step of remaining on the central bank's board of governors, even after his term as chair ends May 15.
Separately, the Senate Banking Committee voted on party lines Wednesday to approve Kevin Warsh as the next Fed chair. The nomination will be taken up by the full Senate next month. President Donald Trump nominated Warsh, a former top Fed official, in January. Last year, Warsh echoed Trump's calls for the Fed to lower its key interest rate, leading many Democrats in Congress to question how independently he will operate as Fed chair.
The Fed is widely expected to keep its key rate unchanged Wednesday for a third straight meeting at 3.6%. Most policymakers believe at that level, the rate can still cool inflation by slowing borrowing and spending, but not so much that it will drag down hiring or raise unemployment.
Still, a key issue for the news conference Wednesday is what Powell says, if anything, about his future. Powell serves a separate term as a governor that lasts until January 2028. Chairs typically leave the board when their leadership terms end, but Powell has signaled he could remain. He would be the first chair to do so since 1948.
If Powell, who has made protecting Fed independence a key part of his legacy, chooses to stay, he would deprive Trump of the opportunity to pick his replacement and fill another seat on the Fed’s seven-member board. Three of the seven current governors are Trump appointees.
At the same time, it could worsen tensions with the Trump administration and would create what some analysts refer to as a “two Popes” scenario, with a chair and former chair both on the Fed’s board. In that case, divisions among policymakers could increase, if some decided to follow Powell's lead rather than Warsh's.
Warsh argued for rate cuts last year, but is unlikely to be able to reduce borrowing costs anytime soon, given that most policymakers have signaled they would prefer to wait and evaluate the Iran war’s impact on the economy.
The leadership turmoil comes while the economy remains unusually murky, putting the Fed in a difficult spot. Inflation has jumped to 3.3%, a two-year high, as the war has sharply raised gas prices. That makes it harder for the central bank to reduce rates. The Fed typically leaves rates unchanged, or even raises them, if inflation is worsening.
At the same time, hiring has ground almost to a halt, leaving those without jobs frustrated by the difficulty of finding new ones. Typically, the Fed cuts rates when the job market is weak, to spur more spending and job gains.
But layoffs also remain low, as employers appear to be following a “ low-hire, low-fire ” strategy. Many Fed officials have suggested that as long as the unemployment rate is low, the central bank doesn't need to cut rates to spur more spending and hiring. Unemployment declined to 4.3% in March, from 4.4%.
A key change economists will look for Wednesday is whether the Fed alters the statement it issues after each meeting to signal that it is possible that their next move could be either a rate cut or a hike. Right now, the statement indicates that any change to its rate would be a cut. According to minutes of its last meeting in March, many of the 19 participants on the Fed’s rate-setting committee support considering a hike, though it's likely short of a majority.
Kevin Warsh is sworn in during his nomination hearing to be a member and chairman of the Federal Reserve Board of Governors before the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill, in Washington Tuesday, April 21, 2026. (AP Photo/Jose Luis Magana)
FILE - President Donald Trump listens to Federal Reserve Chairman Jerome Powell speak during a visit to the Federal Reserve, July 24, 2025, in Washington. (AP Photo/Julia Demaree Nikhinson, File)
Kevin Warsh testifies during his nomination hearing to be a member and chairman of the Federal Reserve Board of Governors before the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill, in Washington Tuesday, April 21, 2026. (AP Photo/Jose Luis Magana)
FILE - Federal Reserve Chair Jerome Powell addresses students at Harvard University, March 30, 2026, in Cambridge, Mass. (AP Photo/Charles Krupa, File)
Kevin Warsh testifies during his nomination hearing to be a member and chairman of the Federal Reserve Board of Governors before the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill, in Washington Tuesday, April 21, 2026. (AP Photo/Jose Luis Magana)
