Applied Materials, Inc.
Case Overview
Status: | Status: Investigating |
Company Name: | Company Name: Applied Materials, Inc. |
Ticker: | Ticker: AMAT |
Related Attorneys: | Lead Attorneys: Thomas W. Elrod |
Related Practices: | Related Practices: Securities |
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 to close at $148.59 on November 17, 2023.
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 to close at $148.59 on November 17, 2023.