A lawsuit was filed on behalf of investors in ACM Research, Inc. (NASDAQ:ACMR) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 01/14/2021 -- An investor, who purchased NASDAQ: ACMR shares, filed a lawsuit against ACM Research, Inc over alleged violations of Federal Securities Laws.
Investors who purchased shares of ACM Research, Inc. (NASDAQ: ACMR) have certain options and for certain investors are short and strict deadlines running. Deadline: February 19, 2021. NASDAQ: ACMR investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
On October 8, 2020, analyst J Capital Research ("J Capital") published a report concerning ACM Research, Inc., in which J Capital concluded that ACM Research, Inc. "is a fraud, over-reporting both revenue and profit." The report cited, among other things, J Capital's visits to "sites in China, Korea, and California" and "more than 40 interviews." J Capital asserted that "[w]hat real profit the company has is apparently being siphoned off to related parties." The J Capital report concluded that ACM's revenue was overstated by 15-20% and claimed to have "evidence that undisclosed related parties are diverting revenue and profit from the company."
The plaintiff claims that between March 6, 2019 and October 7, 2020, the Defendants made false and/or misleading statements and failed to disclose to investors that the Company's revenue and profits had been diverted to undisclosed related parties, that accordingly, the Company had materially overstated its revenues and profits, and that as a result, the Company's public statements were materially false and misleading at all relevant times.
Those who purchased shares of ACM Research, Inc. (NASDAQ: ACMR) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.