Workflow
ASML INVESTOR NOTICE: Robbins Geller Rudman & Dowd LLP Announces that ASML Holdings, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit
ASML HoldingASML Holding(US:ASML) GlobeNewswire News Room·2024-11-18 05:05

Core Viewpoint - ASML Holding N.V. is facing a class action lawsuit alleging violations of the Securities Exchange Act of 1934 due to misleading statements regarding the semiconductor industry's challenges and ASML's performance during the class period from January 24, 2024, to October 15, 2024 [1][3]. Company Summary - ASML develops, produces, markets, sells, and services advanced semiconductor equipment systems for chipmakers [2]. - The lawsuit claims that ASML and its executives made false statements about the severity of issues faced by suppliers in the semiconductor industry and the pace of recovery in sales [3]. - On October 15, 2024, ASML reported a quarterly booking of €2.63 billion, a 53% decline from €5.6 billion in the previous quarter, and revised its full-year 2025 net sales expectations to between €30 billion and €35 billion, down from an initial range of €30 billion to €40 billion [4]. - ASML's gross margin target was also reduced to between 51% and 53%, down from 54% to 56% [4]. - Following these announcements, ASML's stock price fell more than 16% [4]. - During an earnings call on October 16, 2024, ASML's CFO attributed poor bookings to a slow recovery in traditional semiconductor markets, while the CEO indicated that the recovery would extend into 2025, leading to reduced growth expectations [5]. Industry Context - The semiconductor industry is currently experiencing significant challenges, including macroeconomic fluctuations and stricter regulations on technology exports, which have impacted companies like ASML [3].