SAN DIEGO--(BUSINESS WIRE)--The law firm of Robbins Geller Rudman & Dowd LLP announces that the ASML class action lawsuit seeks to represent purchasers or acquirers of ASML Holding N.V. (NASDAQ: ASML) ordinary shares between January 24, 2024 and October 15, 2024, inclusive (the “Class Period”). Captioned City of Hollywood Firefighters’ Pension Fund v. ASML Holding N.V., No. 24-cv-08664 (S.D.N.Y.), the ASML class action lawsuit charges ASML and certain of ASML’s top current and former executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the ASML class action lawsuit, please provide your information here:
https://www.rgrdlaw.com/cases-asml-holding-n-v-class-action-lawsuit-asml.html
You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com.
CASE ALLEGATIONS: ASML develops, produces, markets, sells, and services advanced semiconductor equipment systems for chipmakers.
The ASML class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) the issues being faced by suppliers, like ASML, in the semiconductor industry were much more severe than defendants had indicated to investors; (ii) the pace of recovery of sales in the semiconductor industry was much slower than defendants had publicly acknowledged; and (iii) defendants had created the false impression that they possessed reliable information pertaining to customer demand and anticipated growth, while also downplaying risk from macroeconomic and industry fluctuations, as well as stronger regulations restricting the export of semiconductor technology, including the products that ASML sells.
The ASML class action lawsuit further alleges that on October 15, 2024, ASML announced that it: (i) recorded quarterly booking of only €2.63 billion – a 53% decline from €5.6 billion in the second quarter of 2024; (ii) expected full year 2025 net sales to be between €30 billion and €35 billion, in the lower half of ASML’s initial range of between €30 billion and €40 billion; and (iii) materially reduced its gross margin target to between 51% and 53%, down from its prior guidance of between 54% and 56%. On this news, the price of ASML stock fell more than 16%, according to the complaint.
Then, on October 16, 2024, during the accompanying earnings call, the ASML class action lawsuit alleges that ASML’s CFO, defendant Roger Dassen, attributed the poor bookings results to “a reflection of the slow recovery in the traditional [semiconductor] end markets as customers remain cautious in the current environment.” Additionally, ASML’s CEO, defendant Christophe Fouquet, admitted that the semiconductor industry “recovery will extend well into 2025,” leading to “a reduced growth curve in 2025 and an . . . overall reduction of our lithography demand,” according to the complaint. The ASML class action lawsuit alleges that on this news, the price of ASML stock fell more than 6%.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired ASML ordinary shares during the Class Period to seek appointment as lead plaintiff in the ASML class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the ASML class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the ASML class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the ASML class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud cases. Our Firm has been #1 in the ISS Securities Class Action Services rankings for six out of the last ten years for securing the most monetary relief for investors. We recovered $6.6 billion for investors in securities-related class action cases – over $2.2 billion more than any other law firm in the last four years. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
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