An investigation for investors in Synopsys, Inc. (NASDAQ: SNPS) shares over potential securities laws violations by Synopsys, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 04/26/2022 -- Synopsys, Inc. is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of Synopsys, Inc. (NASDAQ: SNPS), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Synopsys, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Mountain View, CA based Synopsys, Inc. provides electronic design automation software products used to design and test integrated circuits. Synopsys, Inc. reported that its Total Revenue rose from over $3.68 billion for the 12 months period that ended on October 31, 2020, to over $4.2 billion for the 12 months period that ended on October 31, 2021, and that its Net Income over those respective time periods increased from $664.34 million to $757.51 million.
On April 13, 2022, it was reported investigators are looking into allegations that Synopsys, Inc., working with affiliates in China, provided chip designs and software to Huawei Technologies Co.'s HiSilicon unit for manufacture at Semiconductor Manufacturing International Corp. U.S. companies are barred from selling some types of technology to Huawei and SMIC because they've been designated as threats to national security by the Commerce Department's Bureau of Industry and Security (BIS).
Synopsys, Inc. in December disclosed it had received a subpoena from BIS relating to "transactions with certain Chinese entities," without specifying when it received the request or providing further details.
Shares of Synopsys, Inc. (NASDAQ: SNPS) declined from $342.59 per share on March 29, 2022, to as low as $292.18 per share on April 18, 2022.
Those who purchased shares of Synopsys, Inc. (NASDAQ: SNPS) have certain options and should contact the Shareholders Foundation.
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