NEW YORK, NY / ACCESSWIRE / August 30, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Applied Materials, Inc. ("Applied Materials" or the "Company") (NASDAQ:AMAT). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Applied Materials and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On November 16, 2023, Reuters reported that Applied Materials was under criminal investigation by the U.S. Justice Department for potentially evading export restrictions on China's top chipmaker, SMIC.
On this news, Applied Materials' stock price fell $6.19 per share, or 4.02%, to close at $147.75 per share on November 17, 2023.
Then, on February 27, 2024, Reuters reported that Applied Materials had received a subpoena from both the U.S. Securities and Exchange Commission and the U.S. Attorney's Office for the District of Massachusetts related to China shipments, requesting information concerning certain federal award applications.
On this news, Applied Materials' stock price fell $5.32 per share, or 2.62%, to close at $197.54 per share on February 28, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP