Levi & Korsinsky notifies investors that it has commenced an investigation into Applied Materials, Inc. (NASDAQ: AMAT) concerning potential violations of the federal securities laws.
On November 16, 2023, after market closing, Reuters reported that "Semiconductor equipment maker Applied Materials is under U.S. criminal investigation for potentially evading export restrictions on China's top chipmaker SMIC, according to three people familiar with the matter." According to Reuters, Applied Materials "is being probed by the Justice Department for sending equipment to SMIC via South Korea without export licenses, the sources said." Following the publication of the article, Applied Materials stock dropped more than 7% in afterhours trading.
If you suffered a loss on your Applied Materials securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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