Rosen Law Firm Urges Firsthand Technology Value Fund, Inc. (OTC: SVVC) Stockholders with Losses in Excess of $100K to Contact the Firm for Information About Their Rights

NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of purchasers or acquirers of common stock of Firsthand Technology Value Fund, Inc. (OTC: SVVC) between January 1, 2021 and November 14, 2023. Firsthand Technology is a closed-end investment company registered as a business development company.

For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653.

The Allegations: Rosen Law Firm is Investigating the Allegations that Firsthand Technology Value Fund, Inc. (OTC: SVVC) Misled Investors Regarding its Business Operations.

According to the lawsuit, during 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 Value Fund, Inc. (the “Fund”) destroyed over $200 million in shareholder value; (2) defendants began inflating the value of the Fund’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 the Fund’s publicly stated net asset value (“NAV”) and disclosed to investors; and (4) as a result, purchasers of the Fund’s shares during the Class Period were damaged by significant inflation in the market price caused by the fraudulent NAVs.

What Now: You may be eligible to participate in the class action against Firsthand Technology. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by May 20, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

About Rosen Law Firm: Some law firms issuing releases about this matter do not actually litigate securities class actions. Rosen Law Firm does. Rosen Law Firm is a recognized leader in shareholder rights litigation, dedicated to helping shareholders recover losses, improving corporate governance structures, and holding company executives accountable for their wrongdoing. Since its inception, Rosen Law Firm has obtained over $1 billion for shareholders.

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