Semiconductor Manufacturing International Corp. (SMICY)

Class Action & Lead Plaintiff Deadline: February 8, 2021

Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against  Semiconductor Manufacturing International Corporation ("Semiconductor" or "the Company") (OTC: SMICY) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Semiconductor securities between April 23, 2020 and September 26, 2020, both dates inclusive (the "Class Period").  

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

 

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) there was an "unacceptable risk" that equipment supplied to SMIC would be used for military purposes; (2) SMIC was foreseeably at risk of facing U.S. restrictions; (3) as a result of restrictions by the U.S. Department of Commerce, certain of SMIC’s suppliers would need "difficult-to-obtain" individual export licenses; and (4) as a result, defendants’ public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

 

A class action lawsuit has already been filed.You can review a copy of the Complaint and sign the certification form or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Semiconductor you have until February 8, 2021 to request that the Court appoint you as lead plaintiff.  Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

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.

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