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Published May 6, 2025
Ultra Clean Holdings isn’t so squeaky clean after it revealed “unexpected softness” in the Chinese market. Infuriated investors took Ultra Clean stock to the cleaners after this revelation, sending for it a 28% nosedive. Now, some investors have filed a class action to recover their losses.
Ultra Clean manufacturers contamination control technologies for precision industries. Throughout 2024, Ultra Clean boasted about its major growth in China and claimed it was set to double its Chinese revenue. In fact, it said this growth was going to continue in 2025.
But the lawsuit says Ultra Clean executives didn’t know what they were talking about. In February 2025, Ultra Clean retracted those statements and said the Chinese market was experiencing “unexpected softness.”
Financial analysts were shocked by this about-face. Irate investors quickly dumped their shares, causing Ultra Clean’s stock price to plummet. Now, some of those investors are joining the lawsuit.