Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. Investigating Potential Securities Claims On Behalf Of ACM Research Inc. InvestorsNEW YORK, USA, October 28, 2020 /EINPresswire.com/ -- PHILADELPHIA, October 27, 2020 – Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of ACM Research Inc. (“ACM” or the “Company”) (NASDAQ: ACMR) to determine whether ACM engaged in securities fraud or other unlawful business practices.
ACM investors who purchased, or otherwise acquired, the Company’s securities and suffered significant losses are encouraged to complete Kehoe Law Firm’s Securities Class Action Questionnaire or contact Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, firstname.lastname@example.org, email@example.com, to discuss the securities investigation or potential legal claims.
On October 8, 2020, J Capital Research reported, among other things, that “ACMR reports industry-beating gross margins of 47%. [J Capital Research] believe[s] the real gross margins are half that at best. That would wipe out the company’s net profit.” J Capital Research also reported that it “. . . estimate[s] that revenue is overstated by 15-20%[,]” and that it has “. . . evidence that undisclosed related parties are diverting revenue and profit from the company[.]” Additionally, J Capital Research reported that the “[k]ey means by which ACMR tunnels over-reported profit out of the company may be through about $20 mln in overstated inventory costs and through cash that is inflated or just compromised. We think [at] least $11 mln in warranty and service costs are understated.”
On this news, during intraday trading on October 8, 2020, shares of ACMR dropped, thereby injuring investors.
Kehoe Law Firm, P.C., with offices in New York and Philadelphia, is a multidisciplinary, plaintiff–side law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Combined, the partners at Kehoe Law Firm have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.
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Michael Yarnoff, Esq.
Kehoe Law Firm, P.C.