#United States #ASML Holding #NASDAQ #Robbins Geller #San Diego

ASML Investors Launch Class Action Lawsuit

Overview

In a significant legal development, Robbins Geller Rudman & Dowd LLP, a prominent law firm, has announced an impending opportunity for investors of ASML Holding N.V. (NASDAQ: ASML) to participate in a class action lawsuit. This legal proceeding is directed at individuals who purchased or acquired ordinary shares of ASML between January 24, 2024, and October 15, 2024. The deadline to seek appointment as the lead plaintiff in this lawsuit is January 13, 2025. The lawsuit, titled "City of Hollywood Firefighters' Pension Fund v. ASML Holding N.V." (No. 24-cv-08664), filed in the Southern District of New York, states serious allegations against ASML and some of its executive leadership.

Allegations

The lawsuit accuses ASML of violating the Securities Exchange Act of 1934 by making misleading statements to investors. The allegations state that ASML misrepresented critical aspects surrounding the semiconductor industry, which severely impacted its performance and led to substantial losses for its shareholders. According to the complaint, ASML touted an upbeat narrative regarding its operations, while the firm faced significant challenges that were not disclosed to investors.

Specifically, the lawsuit claims that:
1. ASML's executives did not fully disclose the severity of the supply chain issues affecting the semiconductor industry.
2. The recovery in sales within the semiconductor market was slower than what ASML had communicated to the public.
3. The company created a façade of having reliable insights into customer demand while downplaying important risks posed by macroeconomic factors and regulatory challenges affecting the semiconductor sector.

These misrepresentations allegedly contributed to a 16% plummet in ASML's stock price following an announcement on October 15, 2024, regarding a decline in bookings and revisions to their sales forecasts. Reports indicated that ASML recorded only €2.63 billion in bookings for the quarter, representing a significant drop from €5.6 billion in the preceding quarter.

Impact on Investors

As a result of these developments, numerous investors are reportedly evaluating their financial positions. The class action lawsuit provides a structure through which affected investors can seek restitution for their losses. The lead plaintiff in this type of lawsuit typically is the individual or entity with the most at stake, acting on behalf of all other class members. The process is framed under the Private Securities Litigation Reform Act of 1995, specifically designed to assist investors in securities fraud cases. Potential lead plaintiffs can choose their legal representation and will not lose the ability to secure recoveries by not serving as lead plaintiff.

Robbins Geller boasts a robust track record in securities fraud litigation, claiming to have secured $6.6 billion for investors through various related cases. The firm intends to invest its considerable expertise in representing ASML shareholders.

For affected investors wishing to join the class action or learn more about their rights, Robbins Geller has set up communication channels. They can reach out via their designated website or by contacting their attorneys directly.

Conclusion

The unfolding class action against ASML highlights the ongoing legal struggles within the semiconductor industry and the challenges faced by investors amidst fluctuating market conditions. Stakeholders are urged to remain vigilant and informed about their investment rights. This case serves as a reminder of the critical importance of transparency and accountability in corporate communications.

For additional details, affected individuals should contact Robbins Geller Rudman & Dowd LLP at 800-449-4900 or visit their official site for more insights on participation in the class action lawsuit.