A securities class action has been filed against ASML Holding N.V. (ASML) on behalf of a class of all investors that purchased or otherwise acquired ASML ordinary shares between January 24, 2024 through October 15, 2024. This case has been filed in the USDC – SDNY.
According to the lawsuit, during the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts, about the Company’s business and operations. Specifically, Defendants misrepresented and/or failed to disclose that: (1) the issues being faced by suppliers, like ASML, in the semiconductor industry were much more severe than Defendants had indicated to investors; (2) the pace of recovery of sales in the semiconductor industry was much slower than Defendants had publicly acknowledged; (3) 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; and (4) as a result, Defendants’ statements about the Company’s business, operations, and prospects lacked a reasonable basis.
As a result of Defendants’ wrongful acts and omissions, and the significant decline in the market value of the Company’s security causing members of the Class to suffer significant damages.