SAN FRANCISCO, Dec. 21, 2023 (GLOBE NEWSWIRE) -- Hagens Berman urges Applied Materials, Inc. (NASDAQ:AMAT) investors who suffered substantial losses to submit your losses now.
Applied Materials, Inc. (NASDAQ:AMAT) Investigation:
"We're investigating whether Applied Materials may have violated both U.S. trade restrictions and the U.S. securities laws by potentially sending equipment to a China-based chipmaker without export licenses," says Reed Kathrein, the Hagens Berman partner leading the firm's investigation.
Applied Materials shares plunged on Nov. 16, 2023, following news reports that it faces a US criminal investigation for allegedly violating export restrictions to China.
According to Reuters, the Justice Department is examining the company's trades with China's biggest chipmaker, Semiconductor Manufacturing International Corp. The DOJ is probing whether Applied Materials sold hundreds of millions of dollars of equipment without the proper licenses, Reuters reported, citing unidentified sources.
The new reports come on the heels of the company's disclosure in Oct. 2022 that it "received a subpoena from the U.S. Attorney's Office for the District of Massachusetts requesting information relating to certain China customer shipments."
AMAT shares fell as much as 8.3%, the biggest decline since Dec. 22, 2022.
If you invested in Applied Materials and have substantial losses, or have knowledge that may assist the firm's investigation, submit your losses now »
If you'd like more information and answers to frequently asked questions about the Applied Materials investigation, read more »
Whistleblowers: Persons with non-public information regarding Applied Materials should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email AMAT@hbsslaw.com.
About Hagens Berman Hagens Berman is a global plaintiffs' rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
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