Pomerantz LLP has initiated an investigation into potential securities fraud claims against Celestica Inc. (NYSE: CLS) following reports that Google may be reallocating assembly work for tensor processing units to alternative suppliers. The development raises questions about the scope of disclosures made to investors regarding the company's exposure to a critical customer relationship.
Celestika's stock declined 6.08% on January 22, 2026, as market participants weighed the implications of a potential shift in Google's manufacturing strategy. The reported contract reallocation could significantly impact Celestica's revenue streams and operational capacity, particularly given the growing importance of AI infrastructure assembly in the semiconductor services sector. Investors have expressed concern that the company may not have adequately communicated risks associated with concentrated customer relationships.
The investigation examines whether Celestica's public statements and financial disclosures contained material omissions or misrepresentations regarding its Google business. The firm is reviewing trading activity and communications surrounding the announcement to determine whether securities laws were violated. Celestica has not yet publicly responded to the investigation notice.