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Published December 13, 2024
Dutch semiconductor manufacturer ASML Holding N.V. missed the mark when it assured investors that it was on track for record sales by 2025. So, when investors learned sales had short-circuited and ASML’s projections were off-track, they quickly sold off their stock, causing ASML’s stock price to plummet. Now, some of those shareholders have filed a class-action lawsuit against the company.
In early 2024, ASML announced record sales, and company executives told investors they expected 30 to 40 billion Euros in sales in 2025. According to the recent lawsuit, however, executives should have known these projections were far-fetched because the Dutch government imposed strict export regulations on China in 2023. Much of ASML’s sales depended on China, so ASML’s executives should have known hitting their sales goal was almost impossible. In October 2024, investors learned the truth when ASML announced a 53% decline in quarterly bookings. The Company also slashed its 2025 sales target.
Investors quickly sold off their ASML stock. Now, some of those investors are joining the class action lawsuit to recover their losses.