Pomerantz Law Firm Files Class Action Against ASML Holding NV Over Securities Fraud Allegations
Pomerantz LLP, a prominent law firm known for its expertise in corporate securities and antitrust litigation, has announced the filing of a class action lawsuit against ASML Holding NV, a significant player in the semiconductor industry, listed under NASDAQ ticker ASML. This legal action is centered around allegations of securities fraud and potentially unlawful business practices by ASML's leadership.
Shareholders who acquired ASML securities during a specified class period are particularly urged to seek further information about participating in the lawsuit. Interested shareholders can reach out to Danielle Peyton via email or phone, and those opting for email are encouraged to include their contact details and the number of shares they hold. The deadline for requesting Lead Plaintiff status is January 13, 2024. A copy of the complaint can be accessed at Pomerantz’s official website.
The lawsuit follows ASML’s disappointing financial results reported on October 15, 2024, where the company disclosed a stark decline in bookings, reporting only €2.63 billion—a significant decrease of 53% from the previous quarter. Furthermore, ASML revised its net sales expectations for the full year of 2025, anticipating revenues to fall between €30 billion and €35 billion, which is lower than their initial estimate range of €30 billion to €40 billion. This downturn has raised concerns among investors about ASML’s current and future business prospects.
ASML's CEO, Christophe Fouquet, pointed out that while there are encouraging developments in advancements such as artificial intelligence, other segments of the semiconductor market are experiencing a slower recovery than anticipated. This reality led to a reduction in their gross margin forecast from a range of 54%-56% to a more modest expectation of 51%-53%.
The reaction from the market was swift; ASML's stock price plummeted by $141.84, equating to a 16.3% decline, settling at $730.43 per share on the same day the disappointing results were issued. The following day, CFO Roger Dassen attributed the lackluster bookings to a cautious sentiment lingering in the traditional semiconductor markets, suggesting that ongoing geopolitical tensions and market volatility have kept customers on the sidelines.
In a chilling admission, CEO Fouquet warned that industry recovery would likely stretch into 2025, contributing to subdued growth forecasts for the year which has left shareholders vulnerable and questioning the company’s long-term viability. Dassen further clarified that diminished sales to key markets, notably in China, might also exacerbate the company's financial challenges moving forward. ASML's stock took another hit, falling by $46.91 per share or 6.4% following these revelations, closing at $683.52.
Pomerantz LLP has an established track record in representing victims of securities fraud and corporate misconduct, having recovered billions for class members throughout its long-standing history. The firm continues its mission to uphold investor rights as it pursues this new class action. Individuals interested in learning more about their options and the implications of this lawsuit can find further details by visiting the law firm’s official website.
Shareholders who acquired ASML securities during a specified class period are particularly urged to seek further information about participating in the lawsuit. Interested shareholders can reach out to Danielle Peyton via email or phone, and those opting for email are encouraged to include their contact details and the number of shares they hold. The deadline for requesting Lead Plaintiff status is January 13, 2024. A copy of the complaint can be accessed at Pomerantz’s official website.
The lawsuit follows ASML’s disappointing financial results reported on October 15, 2024, where the company disclosed a stark decline in bookings, reporting only €2.63 billion—a significant decrease of 53% from the previous quarter. Furthermore, ASML revised its net sales expectations for the full year of 2025, anticipating revenues to fall between €30 billion and €35 billion, which is lower than their initial estimate range of €30 billion to €40 billion. This downturn has raised concerns among investors about ASML’s current and future business prospects.
ASML's CEO, Christophe Fouquet, pointed out that while there are encouraging developments in advancements such as artificial intelligence, other segments of the semiconductor market are experiencing a slower recovery than anticipated. This reality led to a reduction in their gross margin forecast from a range of 54%-56% to a more modest expectation of 51%-53%.
The reaction from the market was swift; ASML's stock price plummeted by $141.84, equating to a 16.3% decline, settling at $730.43 per share on the same day the disappointing results were issued. The following day, CFO Roger Dassen attributed the lackluster bookings to a cautious sentiment lingering in the traditional semiconductor markets, suggesting that ongoing geopolitical tensions and market volatility have kept customers on the sidelines.
In a chilling admission, CEO Fouquet warned that industry recovery would likely stretch into 2025, contributing to subdued growth forecasts for the year which has left shareholders vulnerable and questioning the company’s long-term viability. Dassen further clarified that diminished sales to key markets, notably in China, might also exacerbate the company's financial challenges moving forward. ASML's stock took another hit, falling by $46.91 per share or 6.4% following these revelations, closing at $683.52.
Pomerantz LLP has an established track record in representing victims of securities fraud and corporate misconduct, having recovered billions for class members throughout its long-standing history. The firm continues its mission to uphold investor rights as it pursues this new class action. Individuals interested in learning more about their options and the implications of this lawsuit can find further details by visiting the law firm’s official website.
Topics Financial Services & Investing）
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