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POET shares plunge 47% after CFO's breach of confidentiality cancels key customer orders.

Market News
18 May 2026
GlobeNewsWire
View Source
Bearish
pluang ai news

POET Technologies' stock dropped 47.3% after its CFO publicly disclosed confidential information about purchase orders from Celestial AI, leading Marvell Semiconductor to cancel all orders. The CFO had promised imminent shipments and a strong supplier relationship, but these statements violated confidentiality agreements, causing significant revenue loss. A class action lawsuit alleges these statements were false and misleading, and investors who bought shares between April 1 and April 26, 2026, may seek compensation before the June 29 deadline.

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