LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz continues its investigation of Applied Materials, Inc. (“Applied Materials” or the “Company”) (NASDAQ: AMAT) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On November 16, 2023, Reuters reported that Applied Materials was under criminal investigation by the U.S. Justice Department for potentially evading export restrictions on China’s top chipmaker SMIC.
On this news, Applied Materials’ stock price fell $6.19, or 4%, to close at $147.75 per share on November 17, 2023, thereby injuring investors.
Then, on February 27, 2024, Reuters reported that Applied Materials had received one subpoena from the Securities and Exchange Commission and another from the U.S. Attorney’s Office for the District of Massachusetts related to China shipments and requesting information related to certain federal award applications.
On this news, Applied Materials’ stock price fell $5.31, or 2.6%, to close at $197. 28 per share on February 27, 2024, thereby injuring investors further.
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If you purchased Applied Materials securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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