Lucid Alternative Fund, LP v. Aehr Test Systems, Inc.
Opinion
Trial Court Opinion
UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA 6 LUCID ALTERNATIVE FUND, LP, Case No. 24-cv-08683-SI
Plaintiff,
ORDER APPOINTING LEAD
v. PLAINTIFF AND LEAD COUNSEL
AEHR TEST SYSTEMS, INC., et al., Re: Dkt. Nos. 13, 17 Defendants.
12 Two competing movants, Lucid Alternative Fund, LP and Yue Guo, have filed motions seeking appointment as lead plaintiff in this securities fraud class action litigation. For the reasons stated below, the Court DENIES Lucid’s motion and GRANTS Guo’s motion. 16 BACKGROUND Institutional investor Lucid Alternative Fund, LP filed a complaint in this Court against Aehr Test Systems, Inc. and Gayn Erickson and Chris Siu, Aehr’s Chief Executive Officer and Chief Financial Officer, respectively. Dkt. No. 1. The complaint alleges Aehr propounded materially false and misleading statements in violation of the Securities Exchange Act of 1934 regarding its revenue projections and performance during its fiscal year 2024. Id. …