Applied Materials Investors Encouraged to Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is investigating whether certain directors and officers of Applied Materials, Inc. (“Applied Materials”) (NASDAQ: AMAT) failed to manage Applied Materials in an acceptable manner, in breach of their fiduciary duties to Applied Materials, and whether Applied Materials and its shareholders have suffered damages as a result.
On November 16, 2023, Reuters reported that Applied Materials was “. . . under U.S. criminal investigation for potentially evading export restrictions on China’s top chipmaker SMIC, according to three people familiar with the matter.”
INVESTORS OF APPLIED MATERIALS STOCK ARE ENCOURAGED TO CLICK HERE OR EMAIL [email protected] TO CONTACT KEHOE LAW FIRM, P.C. TO DISCUSS THE BREACH OF FIDUCIARY DUTIES INVESTIGATION AND POTENTIAL LEGAL CLAIMS.
According to Reuters, “[t]he largest U.S. semiconductor equipment maker is being probed by the Justice Department for sending equipment to SMIC via South Korea without export licenses, the sources said. Hundreds of millions of dollars of equipment is involved, one of the people said.”
Reuters also reported that “Santa Clara, California-based Applied Materials said . . . it first disclosed in October 2022 that it had received a subpoena from the U.S. Attorney’s Office in Massachusetts for information on certain China customer shipments.”