NEW YORK, Jan. 08, 2021 (GLOBE NEWSWIRE) — Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of Semiconductor Manufacturing International Corp. (OTC: SMICY) between April 23, 2020 and September 26, 2020, inclusive (the “Class Period”).
To join the class action, go to http://zhanginvestorlaw.com/join-action-form/?slug=semiconductor-manufacturing-international-corp&id=2523 or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email firstname.lastname@example.org for information on the class action.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: there was an “unacceptable risk” that equipment supplied to SMIC would be used for military purposes; SMIC was foreseeably at risk of facing U.S. restrictions; 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 as a result, defendants’ public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you wish to serve as lead plaintiff, you must move the Court no later than February 8, 2021.
Lead plaintiff status is not required to seek compensation. You may retain counsel of your choice. You may remain an absent class member and take no action at this time.
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