Law
Offices of Howard G. Smith reminds investors of the upcoming March
4, 2016 deadline to file a lead plaintiff motion in the class action
filed on behalf of investors who purchased Aixtron SE (“Aixtron” or the
“Company”) (NASDAQ: AIXG) securities between September 25, 2014 and
December 9, 2015, inclusive (the “Class Period”). Investors who
suffered losses on their investment in Aixtron securities are encouraged
to contact the Law Offices of Howard G. Smith to discuss their legal
rights.
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 220 million – 250 million EUR down to 190 million - 200
million EUR due to “a postponement of shipments to a large Chinese
customer which were planned for delivery in 2015.” The Company also
announced that “[t]hese deliveries are now expected for 2016 depending
on the progress of the ongoing milestone based qualification process.”
On this news the Company’s American Depository Receipts (“ADRs”) fell
$0.84 per ADR, or 12.8%, to close on October 13, 2015, at $5.71 per ADR,
on high trading volume.
Then, on December 9, 2015, the Company issued a press release announcing
that it had “reached an agreement with its Chinese customer 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 also disclosed that “the customer’s specific
qualification requirements were not achieved.”
On this news the Company’s ADRs fell $3.05 per ADR, or 40%, over two
trading days, to close at $4.49 per ADR on December 10, 2015, on
unusually high trading volume.
The complaint alleges that throughout the Class Period, defendants
failed to disclose that: (1) that 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 with San’an
Optoelectronics to ship 50 of the Company’s AIX R6 MOCVD systems to
San’an Optoelectronics was unlikely to be executed; (3) that the
impending failure to execute the original agreement would have a
substantial negative impact on the Company’s prospects; and (4) that, as
a result of the foregoing, Defendants’ statements about Aixtron’s
business, operations, and prospects, were false and misleading and/or
lacked a reasonable basis.
If you purchased Aixtron shares, you may move the Court no later than March
4, 2016 to request appointment as lead plaintiff. To be a member of
the class you need not take any action at this time; you may retain
counsel of your choice or take no action and remain an absent member of
the Class. If you wish to learn more about this action, or if you have
any questions concerning this announcement or your rights or interests
with respect to these matters, please contact Howard G. Smith, Esquire,
of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free
at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com,
or visit our website at http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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