Investor Alert: Law Offices of Howard G. Smith Reminds Aixtron SE Investors of Upcoming Lead Plaintiff Deadline
20 February 2016 - 2:30AM
Business Wire
Law Offices of Howard G. Smith reminds investors of the
upcoming March 4, 2016 deadline to file a lead
plaintiff motion in the class action filed on behalf of investors
who purchased Aixtron SE (“Aixtron” or the “Company”) (NASDAQ:
AIXG) securities between September 25, 2014 and December 9,
2015, inclusive (the “Class Period”). Investors who suffered
losses on their investment in Aixtron securities are encouraged to
contact the Law Offices of Howard G. Smith to discuss their legal
rights.
On October 13, 2015, the Company issued a press release
disclosing that it was revising its previously issued revenue
guidance for the full year 2015 from 220 million – 250 million EUR
down to 190 million - 200 million EUR due to “a postponement of
shipments to a large Chinese customer which were planned for
delivery in 2015.” The Company also announced that “[t]hese
deliveries are now expected for 2016 depending on the progress of
the ongoing milestone based qualification process.”
On this news the Company’s American Depository Receipts (“ADRs”)
fell $0.84 per ADR, or 12.8%, to close on October 13, 2015, at
$5.71 per ADR, on high trading volume.
Then, on December 9, 2015, the Company issued a press release
announcing that it had “reached an agreement with its Chinese
customer San’an Optoelectronics regarding a substantial reduction
in the volume of AIX R6 MOCVD systems ordered from 50 to the three
which have already been delivered.” The Company also disclosed that
“the customer’s specific qualification requirements were not
achieved.”
On this news the Company’s ADRs fell $3.05 per ADR, or 40%, over
two trading days, to close at $4.49 per ADR on December 10, 2015,
on unusually high trading volume.
The complaint alleges that throughout the Class Period,
defendants failed to disclose that: (1) that the AIX R6 MOCVD
systems that were to be shipped to the Company’s large Chinese
customer (San’an Optoelectronics) did not meet the customer’s
specific qualification requirements; (2) that, as such, the
Company’s agreement with San’an Optoelectronics to ship 50 of the
Company’s AIX R6 MOCVD systems to San’an Optoelectronics was
unlikely to be executed; (3) that the impending failure to execute
the original agreement would have a substantial negative impact on
the Company’s prospects; and (4) that, as a result of the
foregoing, Defendants’ statements about Aixtron’s business,
operations, and prospects, were false and misleading and/or lacked
a reasonable basis.
If you purchased Aixtron shares, you may move the Court no later
than March 4, 2016 to request appointment as lead
plaintiff. To be a member of the class you need not take any action
at this time; you may retain counsel of your choice or take no
action and remain an absent member of the Class. If you wish
to learn more about this action, or if you have any
questions concerning this announcement or your rights or interests
with respect to these matters, please contact Howard G. Smith,
Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike,
Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215)
638-4847, toll-free at (888) 638-4847, or by email
to howardsmith@howardsmithlaw.com, or visit our website
at http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20160219005173/en/
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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