The Rosen Law Firm, a leading global investor rights law firm, has initiated a class action lawsuit on behalf of shareholders who acquired common stock of Firsthand Technology Value Fund, Inc. (OTC: SVVC) between January 1, 2021, and November 14, 2023.

The lawsuit alleges that the defendants made false and misleading statements regarding the Fund’s financial health and investment strategies, leading to investor losses.

Background on Firsthand Technology Value Fund

Firsthand Technology Value Fund is a publicly traded venture capital fund that invests in technology and cleantech companies. In October 2023, the Fund announced plans to withdraw its election to be regulated as a business development company (BDC) and to seek stockholder approval for liquidation. The Board cited material setbacks in two of its largest holdings, resulting in valuation write-downs that could reduce the Fund’s asset value below its accrued liabilities.

Rosen Law Firm’s Role and Track Record

Rosen Law Firm has been consistently ranked among the top law firms in securities class action settlements. In 2023, Institutional Shareholder Services (ISS) ranked the firm third in the number of securities class action settlements, a position it has maintained in the top four since 2013. The firm’s extensive experience and commitment to investor rights position it as a formidable advocate for shareholders in this case.

Implications for Investors

Investors who acquired SVVC stock during the class period may be entitled to compensation. The Rosen Law Firm encourages affected shareholders to contact the firm to discuss their options and to determine eligibility for inclusion in the class action.

For more information or to join the class action, investors can visit Rosen Law Firm’s website or contact the firm directly.