Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased ASML Holding N.V. (“ASML” or the “Company”) (NASDAQ: ASML) ordinary shares between January 24, 2024, and October 15, 2024, inclusive (the “Class Period”). ASML investors have until January 13, 2025 to file a lead plaintiff motion.
Investors suffering losses on their ASML investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
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.
If you purchased ASML securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
