ACM Research, Inc. Securities Litigation

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Lawsuit Overview

Defendant:ACM Research, Inc.
Date Filed:December 21st, 2020
Sector:Technology
Industry:Industrial Machinery/Components
Class Start Date:March 6th, 2019
Class End Date:October 7th, 2020

According to the Complaint, ACM Research, Inc. together with its subsidiaries, develops, manufactures, and sells single-wafer wet cleaning equipment for enhancing the manufacturing process and yield for integrated chips worldwide. The Company markets and sells its products under the Ultra C brand name through direct sales force and third-party representatives.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements, and failed to disclose material adverse facts about the Company's business, operational, and compliance policies. Specifically, the Complaint alleges Defendants made false and/or misleading statements and failed to disclose to investors that: (i) the Company's revenue and profits had been diverted to undisclosed related parties; (ii) accordingly, the Company had materially overstated its revenues and profits; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.

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First Identified Complaint

Jeffrey Kain, et al. v. ACM Research, Inc., et al.

Date Filed:December 21st, 2020
Class Period Start:March 6th, 2019
Class Period End:October 7th, 2020
First Identified Complaint Filings
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