Ultra Clean (US:UCTT) Prnewswireยท2025-05-08 09:45Core Viewpoint - The article discusses a class action lawsuit against Ultra Clean Holdings, Inc. (NASDAQ: UCTT) due to allegations of misleading statements regarding demand for its products in the Chinese market, leading to significant stock price decline [2][3]. Group 1: Allegations and Impact - The class period for the lawsuit is from May 6, 2024, to February 24, 2025, during which Ultra Clean allegedly provided investors with overly positive information about demand from Chinese OEMs and the domestic market [2]. - Defendants claimed that revenue doubled with no signs of slowing down, while concealing issues such as customer ramp problems and inventory corrections that affected demand [2]. - Following the release of the fourth quarter and full year 2024 fiscal results on February 24, 2025, Ultra Clean acknowledged "demand softness" in China, leading to a dramatic stock price drop from $36.06 to $25.90, a decline of over 28% in one day [2]. Group 2: Next Steps for Shareholders - Shareholders who purchased UCTT shares during the specified period are encouraged to register for the class action by May 23, 2025, to potentially become lead plaintiffs [3]. - Registered shareholders will receive updates through portfolio monitoring software regarding the case's progress [3]. Group 3: Law Firm Information - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud [4]. - The firm aims to ensure companies engage in responsible business practices and seeks recovery for investors affected by misleading statements that inflated stock prices [4].