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HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages ACM Research (ACMR) Investors with Losses to Contact Its Attorneys, Firm Investigating Possible Securities Fraud

Hagens Berman Sobol Shapiro LLP
·2 mins read

SAN FRANCISCO, Oct. 15, 2020 (GLOBE NEWSWIRE) -- Hagens Berman urges ACM Research, Inc. (NASDAQ: ACMR) investors with significant losses to submit your losses now. The firm is investigating possible securities fraud and certain investors may have valuable claims.

Relevant Period: Before Oct. 8, 2020
Visit: www.hbsslaw.com/investor-fraud/ACMR
Contact An Attorney Now: ACMR@hbsslaw.com
844-916-0895

ACM Research Inc. (ACMR) Investigation:

The investigation centers on the accuracy of ACMR’s reported financial results, including its gross margins, revenues, related party transactions, and certain expenses.

ACMR and senior management have repeatedly assured investors of the adequacy of the company’s internal controls over financial reporting and repeatedly touted its revenue and earnings growth.

But, on Oct. 8, 2020, J Capital Research published a report, entitled “Dirty business,” bringing all of management’s prior statements into serious question.

More specifically, J Capital concludes ACMR is a fraud, over-reporting both revenue and profit. According to the report, “ACMR reports industry-beating gross margins of 47%” but “[w]e believe the real gross margins are half at best.” J Capital also concludes revenues are overstated by 15-20%, undisclosed related parties are diverting revenue and profit from the company, the key means by which ACMR tunnels over-reported profit out of the company may be through about $20 million in overstated inventory and through cash that is inflated or compromised, and warranty and service costs are understated by at least $11 million.

This news sent the price of ACMR shares sharply lower during intraday trading on Oct. 8, 2020.

“We’re focused on investors’ losses and whether ACMR cooked its books, thereby misleading its investors,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you are an ACMR investor and have significant losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding ACMR should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email ACMR@hbsslaw.com.

About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact:
Reed Kathrein, 844-916-0895