J Capital Research issued a report on October 8, 2020 alleging, among other things, that ACM is “over-reporting both revenue and profit.” Citing site visits as well as more than 40 interviews, it was alleged in the report that “[w]hat real profit the company has is apparently being siphoned off to related parties.” The report also concluded revenue is overstated by 15-20% and claimed to have “evidence that undisclosed related parties are diverting revenue and profit from the company.”
ACM’s stock price fell $1.09 on this news, or 1.52%, to close at $70.79 per share on October 8, 2020, thereby injuring investors.
It is alleged in the complaint filed in this class action that throughout the Class Period, ACM made materially misleading and/or false statements, as well as failed to disclose material adverse facts about the ACM’s business, operations, and prospects. Specifically, ACM failed to disclose to investors that: (1) revenue and profits had been diverted to undisclosed related parties; (2) ACM’s revenues and profits had been materially overstated; and (3) ACM’s positive statements about the its business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times, as a result.
ACM Research, Inc.
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
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CONTACT:
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Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
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Los Angeles, CA 90067
info@portnoylaw.com
