ACM Research, Inc. (ACMR)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of ACM Research, Inc. ("ACM" or the "Company") (NASDAQ: ACMR). The investigation concerns whether ACM and certain of its officers and/or directors have violated federal securities laws.
On October 8, 2020, analyst J Capital Research ("J Capital") published a report concerning ACM, in which J Capital concluded that ACM "is a fraud, over-reporting both revenue and profit." The report cited, among other things, J Capital's visits to "sites in China, Korea, and California" and "more than 40 interviews." J Capital asserted that "[w]hat real profit the company has is apparently being siphoned off to related parties." The J Capital report concluded that ACM's revenue was overstated by 15-20% and claimed to have "evidence that undisclosed related parties are diverting revenue and profit from the company." Following this news, ACM's stock price $1.09 per share, or 1.52%, to close at $70.79 per share on October 8, 2020.
If you are aware of any facts relating to this investigation, or purchased ACM shares, you can assist this investigation by contacting the firm. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.