Ultra Clean (US:UCTT) Prnewswireยท2025-05-19 17:04Core 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 following the revelation of "demand softness" [2][3]. Group 1: Allegations and Impact - The lawsuit claims that Ultra Clean's executives provided investors with overly positive information about demand from Chinese OEMs and the domestic market, including reports of revenue doubling without signs of slowing down [2]. - It is alleged that while making these positive statements, the company concealed material adverse facts, such as facing a customer ramp issue and inventory corrections, which ultimately led to weakness in demand [2]. - Following the release of the fourth quarter and full year 2024 fiscal results on February 24, 2025, Ultra Clean's stock price dropped from $36.06 to $25.90 per share, a decline of over 28% in one day [2]. Group 2: Class Action Details - The class period for the lawsuit is defined as May 6, 2024, to February 24, 2025, and shareholders are encouraged to register for participation [2][3]. - The deadline for shareholders to seek lead plaintiff status is May 23, 2025, and there is no cost or obligation to participate in the case [3]. - Registered shareholders will receive updates through portfolio monitoring software throughout the lifecycle of the case [3].