Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against ACM Research, Inc. (ACMR)
BENSALEM, Pa., January 25, 2021 / PRNewswire / – Law Firms of Howard G. Smith reminds investors of the upcoming February 19, 2021 Deadline for filing a lead plaintiff motion in the case filed on behalf of investors who have inter-purchased securities of ACM Research, Inc. (“ACM Research” or the “Company”) (NASDAQ: ACMR) March 6, 2019 and October 7, 2020including (the “Class Period”).
Investors experiencing losses on their ACM Research investments are encouraged to contact the law firm of Howard G. Smith to discuss your statutory rights in this class action lawsuit at 888-638-4847 or email at [email protected].
On October 8, 2020J Capital Research released a report claiming, among other things, that the company “reports both sales and profits”. Citing on-site visits and more than 40 interviews, the report states: “[w]The company’s actual profit is apparently transferred to affiliated companies. “The report also concluded that revenue is overvalued by 15-20%, claiming it has” evidence that undisclosed affiliates divert revenue and profits from the company “.
In the news, the company’s share price fell $ 1.09or 1.52% to close at $ 70.79 per share on October 8, 2020thereby hurting investors.
The complaint filed in this class action alleges that throughout the class period, defendants made materially false and / or misleading statements and did not disclose material adverse facts about the company’s business, business and prospects. Specifically, Defendants have failed to advise investors that: (1) the Company’s sales and profits have been diverted to unnamed affiliates; (2) Accordingly, the company had significantly overestimated its sales and profits. and (3) as a result, Defendants’ positive statements about the Company’s business, operations and prospects were materially misleading and / or were unfounded at all relevant times.
If you have purchased or otherwise acquired ACM Research securities during the class period, you can move the court at the latest February 19, 2021 asking the court to appoint you as the lead plaintiff if you meet certain legal requirements. To be a member of the class action, you do not need to take any action at this point. You can keep an attorney of your choice or you can take no action and remain an absent member of the class action. If you would like to learn more about this class action lawsuit, or if you have any questions about this announcement or your rights or interests in relation to these matters, please contact Howard G. Smith, Esquire, from law firms of Howard G. Smith3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by phone at (215) 638-4847, toll-free at (888) 638-4847, or by email at [email protected]or visit our website at www.howardsmithlaw.com.
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Law Firms of Howard G. Smith
Howard G. Smith, Esquire
SOURCE Law Offices by Howard G. Smith