Kirby McInerney LLP Announces Investigation of Shareholder Claims Against Applied Materials, Inc. (AMAT)
The law firm of Kirby McInerney LLP is investigating potential claims against Applied Materials, Inc. ("Applied Materials" or the "Company") (NASDAQ: AMAT). The investigation concerns whether Applied Materials and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
On November 16, 2023, Reuters reported that "Semiconductor equipment maker Applied Materials is under U.S. criminal investigation for potentially evading export restrictions on China's top chipmaker SMIC, according to three people familiar with the matter." According to Reuters, the Company "is being probed by the Justice Department for sending equipment to SMIC via South Korea without export licenses" according to its sources. The price of Applied Materials shares declined by $6.22 per share, or approximately 4%, from $154.81 per share o close at $148.59 on November 17, 2023.
If you purchased or otherwise acquired Applied Materials securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at [email protected], or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs' law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm's efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP's website: https://www.kmllp.com.
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