The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of investors who purchased Semiconductor Manufacturing International Corporation (OTC: SMICY) securities between April 23, 2020 and September 26, 2020.
According to the Semiconductor Manufacturing lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) there was an “unacceptable risk” that equipment supplied to SMIC would be used for military purposes; (2) SMIC was foreseeably at risk of facing U.S. restrictions; (3) as a result of restrictions by the U.S. Department of Commerce, certain of SMIC’s suppliers would need “difficult-to-obtain” individual export licenses; and (4) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.
If you suffered a loss in Semiconductor Manufacturing you have until February 8, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn\'t require that you serve as a lead plaintiff.
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