ASML Holding N.V. (NASDAQ: ASML): ASML Holding N.V. (“ASML” or the “Company”) and certain of the Company’s senior executives have been sued for violations of the federal securities laws. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in ASML securities. The case is pending in the U.S. District Court for the Southern District of New York and is captioned City of Hollywood Firefighters’ Pension Fund v. ASML Holding N.V., et al., No. 24-cv-8664.
 
If you incurred losses on your investments in ASML, you are encouraged to submit your information.
 
Why was ASML Sued for Securities Fraud?
 
The Complaint alleges that ASML is a leading supplier to the semiconductor industry, providing photolithography machines to chipmakers that are used in the semiconductor fabrication process. As alleged, ASML repeatedly represented to shareholders that new export controls on semiconductor technology announced by the Dutch government would not have a material effect on ASML’s financial outlook, and that ASML was on a path to recovery in its sales. However, in truth, it is alleged that the Dutch controls had a material effect on ASML’s sales to China, and that ASML’s recovery of sales was much slower than expected.
 
The Stock Declines as the Truth is Revealed
 
On October 15, 2024, ASML announced earnings significantly lower than expectations. The Company attributed this to a market that was “taking longer to recover” and admitted that “[i]t now appears the recovery is more gradual than previously expected.” On this news, the price of the Company’s stock fell 16%, from a closing price of $872.27 per share on October 14, 2024, to $730.43 per share on October 15, 2024. 
 
Then, during the accompanying earnings call with investors on October 16, 2024, the Company attributed the poor earnings results to “a reflection of the slow recovery in the traditional [semiconductor] end markets as customers remain cautious in the current environment.” The Company also disclosed that the decline in ASML’s sales to China would also negatively impact the Company’s gross margins. On this news, the price of the Company’s stock fell 6.4%, from a closing price of $730.43 per share on October 15, 2024, to $683.52 per share on October 16, 2024. 

What are my Rights?

If you purchased or otherwise acquired ASML securities, you may ask the Court no later than January 13, 2025, which is the first business day after 60 days from the date of the publication of notice of pendency of the action, to appoint you as Lead Plaintiff through counsel of your choice. To be a member of the Class, you need not take any action at this time. The ability to share in any potential future recovery is not dependent on serving as Lead Plaintiff. 
 
If you incurred losses on your investments in ASML, you are encouraged to submit your information to speak with an attorney about your rights.  

You can also contact:
Ross Shikowitz
ross@bfalaw.com
212-789-3619

All representation is on a contingency fee basis. Shareholders are not responsible for any court costs or expenses of litigation. The Firm will seek court approval for any potential fees and expenses.

Why Bleichmar Fonti & Auld LLP?

BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors (pending court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd.
 
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