Ultra Clean (UCTT) Prnewswire·2025-03-25 01:52Core Viewpoint - A class action lawsuit has been filed against Ultra Clean Holdings, Inc. for allegedly misleading investors about the demand for its products in China during a specified period [1][2]. Group 1: Allegations and Company Performance - The lawsuit claims that Ultra Clean Holdings misrepresented its knowledge regarding the demand for its products in the Chinese market, leading to a false impression of reliable growth and earnings potential [2]. - The company's optimistic reports did not account for declining demand due to issues faced by a major customer, extended qualification timelines, and inventory absorption, particularly in the volatile semiconductor industry [2]. - On February 24, 2025, Ultra Clean reported "demand softness" in China during its fourth quarter and full year 2024 earnings call, which resulted in a significant stock price drop from 25.90, a decline of over 28% [3]. Group 2: Legal Proceedings and Shareholder Actions - Shareholders interested in participating in the class action must file their papers by May 23, 2025, to serve as lead plaintiff, representing other class members [4]. - Shareholders are not required to participate in the case to be eligible for recovery, and they can choose to remain absent class members [4]. Group 3: Company Background - Robbins LLP, the firm leading the class action, has been active in shareholder rights litigation since 2002, focusing on helping shareholders recover losses and improve corporate governance [5].