After market hours on September 7, 2020, it was reported in Reuters that “The Trump administration is considering whether to add China’s top chipmaker SMIC to a trade blacklist, a Defense Department official said[.]” SMIC’s American depositary receipt (“ADR”) price fell $3.08 per share, or over 20%, on this news, to close at $12.02 per share on September 8, 2020, the next trading day. Reuters reported on September 26, 2020 that “The United States has imposed restrictions on exports to China’s biggest chip maker SMIC after concluding there is an ‘unacceptable risk’ equipment supplied to it could be used for military purposes.” SMIC’s ADR price fell sharply on this news, during intraday trading on the next trading day, September 28, 2020.
Semiconductor Manufacturing International Corporation
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to firstname.lastname@example.org.
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 email@example.com.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
1800 Century Park East, Suite 600
Los Angeles, CA 90067