NEW YORK, Oct. 21, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of ACM Research, Inc. (“ACM” or the “Company”) (NASDAQ: ACMR). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether ACM and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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.”
On this news, ACM’s stock price $1.09 per share, or 1.52%, to close at $70.79 per share on October 8, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.