NEW YORK, NY / ACCESSWIRE / November 22, 2024 / Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against ASML Holding N.V. (NASDAQ:ASML) and certain of the Company's senior executives for potential violations of the federal securities laws.
If you invested in ASML, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/asml-holding-nv.
Investors have until January 13, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in ASML securities. The case is pending in the U.S. District Court for the Southern District of New York and is captioned City of Hollywood Firefighters' Pension Fund v. ASML Holding N.V., et al., No. 24-cv-8664.
What is the Lawsuit About?
ASML is a leading supplier to the semiconductor industry, providing photolithography machines to chipmakers that are used in the semiconductor fabrication process.
The complaint alleges that ASML repeatedly represented to shareholders that new export controls on semiconductor technology announced by the Dutch government would not have a material effect on ASML's financial outlook, and that ASML was on a path to recovery in its sales.
On October 15, 2024, ASML announced earnings significantly lower than expectations. The Company attributed this to a market that was "taking longer to recover" and admitted that "[i]t now appears the recovery is more gradual than previously expected." On this news, the price of the Company's stock fell 16%, from a closing price of $872.27 per share on October 14, 2024, to $730.43 per share on October 15, 2024.
Then, during the accompanying earnings call with investors on October 16, 2024, the Company attributed the poor earnings results to "a reflection of the slow recovery in the traditional [semiconductor] end markets as customers remain cautious in the current environment." The Company also disclosed that the decline in ASML's sales to China would also negatively impact the Company's gross margins. On this news, the price of the Company's stock fell 6.4%, from a closing price of $730.43 per share on October 15, 2024, to $683.52 per share on October 16, 2024.
Click here if you suffered losses: https://www.bfalaw.com/cases-investigations/asml-holding-nv.
What Can You Do?
If you invested in ASML you may have legal options and are encouraged to submit your information to the firm.
All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
Submit your information by visiting:
https://www.bfalaw.com/cases-investigations/asml-holding-nv
Or contact:
Ross Shikowitz
[email protected]
212-789-3619
Why Bleichmar Fonti & Auld LLP?
Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs' Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.'s Board of Directors (pending court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd.
For more information about BFA and its attorneys, please visit https://www.bfalaw.com.
https://www.bfalaw.com/cases-investigations/asml-holding-nv
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SOURCE: Bleichmar, Fonti, & Auld LLP