LOS ANGELES, Dec. 10, 2024 (GLOBE NEWSWIRE) --
Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming January 13, 2025 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired ASML Holding N.V. (“ASML” or the “Company”) ( ASML) ordinary shares between January 24, 2024, and October 15, 2024, inclusive (the “Class Period”).
If you suffered a loss on your ASML investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/asml-holding-nv/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.
On October 15, 2024, ASML released its third quarter 2024 financial results, revealing quarterly bookings of €2.63 billion, a decline of 53% quarter-over-quarter. The Company also announced it expected full year 2025 total net sales to be between €30 billion and €35 billion, with a gross margin between 51% and 53%, explaining that “[w]hile there continue to be strong developments and upside potential in [artificial intelligence], other [semiconductor] market segments are taking longer to recover” and that “[i]t now appears the recovery is more gradual than previously expected.”
On this news, ASML’s stock price fell $141.84, or 16.3%, to close at $730.43 per share on October 15, 2024, thereby injuring investors.
Then, on October 16, 2024, ASML held its earnings call, during which, the Company further revealed that ASML’s sales in China had declined, which would also negatively impact the Company’s gross margins.
On this news, ASML’s stock price fell $46.91, or 6.4%, to close at $683.52 per share on October 16, 2024, thereby injuring investors further.
The complaint filed in this class action alleges that throughout 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, operations, and prospects. Specifically, Defendants failed to disclose to investors 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’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
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If you purchased or otherwise acquired ASML ordinary shares during the Class Period, you may move the Court no later than January 13, 2025 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Glancy Prongay & Murray LLP, Los Angeles
Charles Linehan, 310-201-9150 or 888-773-9224
[email protected]
www.glancylaw.com
