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Applied Materials (AMAT) Criminal Investigation Case
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- In Nov Reuters reported Applied Materials under criminal investigation by the U.S. DOJ.
- On it, $AMAT fell 4%, losing $5.1B+ of shareholder value.
- Investors may have grounds to suspect Applied Materials of failing to timely disclose its legal problems, which led to their losses.
On November 16, 2023, Reuters reported that Applied Materials is under criminal investigation by the U.S. Justice Department for potentially evading export restrictions on China’s top chipmaker SMIC.
- On this news, $AMAT fell 4% and lost over $5.1 billion of its market capitalization, seriously damaging shareholders.
Considering all the information, investors might have grounds to suspect that Applied Materials and its executives were involved in unlawful business practices and failed to timely disclose company’s exposure to criminal investigation, which consequently led to their losses.
The case is already under investigation by at least one of the reputable law firms.
Failure to Disclose,
Shock Event Date
17 November 2023