ACM Research, Inc
|Company Name||ACM Research, Inc|
|Class Period||March 06, 2019 to October 07, 2020|
|Lead Plaintiff Motion Deadline||February 19, 2021|
On October 8, 2020, J Capital Research issued a report, stating among other things, “ACM Research (ACMR) is a fraud, over-reporting both revenue and profit. What real profit the company has is apparently being siphoned off to related parties.” The report also concluded “ACMR reports industry-beating gross margins of 47%. J Capital Research believes the real gross margins are half that at best. That would wipe out the company’s net profit.” The report also stated that “. . . estimate[s] that revenue is overstated by 15-20%, ” and “. . . evidence that undisclosed related parties are diverting revenue and profit from the company.”
On this news, the Company’s stock price fell $1.09, or 1.52%, to close at $70.79 per share on October 8, 2020, thereby injuring investors.
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