Recent Security Class Actions

ACM Research Inc. Class A Common Stock (NASDAQ: ACMR)

Company Name:ACM Research Inc. Class A Common Stock
Stock Symbol:NASDAQ: ACMR
Class Period Start:03/06/2019
Class Period End (inclusive):11/16/2020
Filing Deadline:02/19/2021

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.