An investigation on behalf of investors in Synopsys, Inc. (NASDAQ:SNPS) shares over potential wrongdoing at Synopsys, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 08/10/2022 -- An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at Synopsys, Inc.
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 concerns whether certain Synopsys directors breached their fiduciary duties and caused damage to the company and its shareholders.
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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