AIXG INVESTORS ALERT: Lieff Cabraser Announces Securities Class Action Against Aixtron SE
January 07 2016 - 3:05PM
Business Wire
The law firm of Lieff Cabraser Heimann & Bernstein, LLP
announces that class action litigation has been brought on behalf
of purchasers of the securities of Aixtron SE (“Aixtron” or the
“Company”) (Nasdaq:AIXG) between September 25, 2014 and December 9,
2015, inclusive (the “Class Period”).
If you purchased the securities of Aixtron during the Class
Period, you may move the Court for appointment as lead plaintiff by
no later than March 4, 2016. A lead plaintiff is a representative
party who acts on behalf of other class members in directing the
litigation. Your share of any recovery in the action will not be
affected by your decision of whether to seek appointment as lead
plaintiff. You may retain Lieff Cabraser, or other attorneys, as
your counsel in the action.
Aixtron investors who wish to learn more about the litigation
and how to seek appointment as lead plaintiff should click here or
contact Sharon M. Lee of Lieff Cabraser toll-free at
1-800-541-7358.
Background on the Aixtron Securities Class Litigation
Aixtron, headquartered in Germany, provides deposition equipment
to the semiconductor industry. The action alleges that, throughout
the Class Period, Aixtron and certain of its officers failed to
disclose that: (1) 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 to ship 50 of the
Company’s AIX R6 MOCVD systems to San’an Optoelectronics was
unlikely to be executed; and (3) that the impending failure to
execute the original agreement would have a substantial negative
impact on the Company’s prospects.
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 between 220 million and 250
million euros down to between 190 million and 200 million euros due
to “a postponement of shipments to a large Chinese customer which
were planned for delivery in 2015.” On this news, the price of
Aixtron American Depository Receipts (“ADRs”) fell $0.84 per ADR,
or 12.82%, from its closing price of $6.55 on October 12, 2015, to
close at $5.71 per ADR on October 13, 2015, on elevated trading
volume.
On December 9, 2015, the Company issued a press release
announcing that it had reached an agreement with “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 additionally disclosed that
“the customer’s specific qualification requirements were not
achieved.” On this news, the Company’s ADR price fell $3.05 per
ADR, or 40.45% over two trading days, to close at $4.49 per ADR on
December 10, 2015, on extraordinarily high trading volume.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San
Francisco, New York, and Nashville, and Seattle, is a nationally
recognized law firm committed to advancing the rights of investors
and promoting corporate responsibility.
The National Law Journal has recognized Lieff Cabraser as one of
the nation’s top plaintiffs’ law firms for thirteen years. In
compiling the list, the National Law Journal examines recent
verdicts and settlements and looked for firms “representing the
best qualities of the plaintiffs’ bar and that demonstrated unusual
dedication and creativity.” Best Lawyers and U.S. News have named
Lieff Cabraser as a “Law Firm of the Year” for each year the
publications have given this award to law firms.
For more information about Lieff Cabraser and the firm’s
representation of investors, please visit
http://www.lieffcabraser.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160107006322/en/
Source/Contact for Media Inquiries
Only:Lieff Cabraser Heimann & Bernstein, LLPSharon M.
Lee, 1-800-541-7358
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