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POET INVESTOR ALERT: Contact Kirby McInerney LLP About Securities Class Action Lawsuit On Behalf of POET Technologies Inc. Investors

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POET The article details a class action lawsuit against POET Technologies Inc. concerning alleged misrepresentations about its tax status (PFIC) and a CFO's violation of business agreements. Significant stock price drops occurred following a short seller report and news of purchase order cancellations from Celestial AI (acquired by Marvell Semiconductor Inc.).

POET INVESTOR ALERT: Contact Kirby McInerney LLP About Securities Class Action Lawsuit On Behalf of POET Technologies Inc. Investors NEW YORK CITY, NY / ACCESS Newswire / May 27, 2026 / The law firm of Kirby McInerney LLP reminds POET Technologies Inc. ("POET" or the "Company") (NASDAQ:POET) investors of the June 29, 2026 lead plaintiff deadline to seek lead plaintiff appointment in the class action filed on behalf of investors who acquired POET securities between April 1, 2026 through April 27, 2026 ("the Class Period").

Courts do not consider applications filed after the lead plaintiff 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.

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What Is The Lawsuit About?

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 short seller report entitled "We Believe POET is An Obvious Stock Promote, Has Created An IRS Nightmare: US Holders Have Until April 15 th To Act." The release stated 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 [email protected], or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.

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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/

[email protected]

SOURCE: Kirby McInerney LLP