NEW YORK, Jan. 8, 2016 /PRNewswire/ -- Bernstein Liebhard
LLP today announced that a securities class action has been filed
in the United States District Court for the Southern District of
New York on behalf of a class (the
"Class") consisting of all persons or entities who purchased
Aixtron SE ("Aixtron" or the "Company") (AIXG) securities between
September 25, 2014 and December 9, 2015 (the "Class Period"). The
complaint charges Aixtron and certain of its officers with
violations of the Securities Exchange Act of 1934.
Aixtron is a leading provider of deposition equipment to the
semiconductor industry. The Company's technology solutions
are reportedly used by a diverse range of customers worldwide to
build advanced components for electronic and optoelectronic
applications based on compound, silicon, or organic semiconductor
materials.
The complaint charges Aixtron and certain of its officers with
violations of the federal securities laws. Specifically, the
complaint alleges that throughout the Class Period, defendants
failed to disclose that: (1) the AIX R6 MOCVD ("AIX") systems that
were to be shipped to a large Chinese customer (San'an
Optoelectronics) ("San'an") did not meet the customer's specific
qualification requirements; (2) the Company's agreement with San'an
to ship 50 of the Company's AIX R6 MOCVD systems to San'an was
unlikely to be executed; (3) the impending failure to execute the
original agreement would have a substantial negative impact on the
Company's prospects; and (4) 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.
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." On this news, Aixtron's
American Depository Receipts ("ADRs") fell almost 13% on heavy
volume.
Then, on December 9, 2015, the
Company announced that it was cutting the number of AIX systems
Aixtron was to ship by a whopping 94%. Aixtron stated that it
had "reached an agreement with San'an regarding a substantial
reduction in the volume of AIX [] systems ordered from 50 to the
three which have already been delivered." Aixtron also
disclosed that "the customer's specific qualification requirements
were not achieved." On this news, the Company's ADRs fell
40%, causing investors tremendous losses.
Plaintiffs seek to recover damages on behalf of all Class
members who invested in Aixtron securities during the Class
Period. If you invested in Aixtron securities as described
above, and lost money on the transactions, you may wish to join in
this action to serve as lead plaintiff. In order to do so,
you must meet certain requirements set forth in the applicable law
and file appropriate papers no later than March 4, 2016.
A "lead plaintiff" is a representative party that acts on behalf
of other class members in directing the litigation. In order
to be appointed lead plaintiff, the court must determine that the
class member's claim is typical of the claims of other class
members, and that the class member will adequately represent the
class. Under certain circumstances, one or more class members
may together serve as lead plaintiff. Your ability to share
in any recovery is not, however, affected by the decision whether
or not to serve as a lead plaintiff. You may retain Bernstein
Liebhard LLP, or other counsel of your choice, to serve as your
counsel in this action.
If you are interested in discussing your rights as an Aixtron
investor and/or have information relating to the matter, please
contact Joseph R. Seidman, Jr. at
(877) 779-1414 or seidman@bernlieb.com.
Bernstein Liebhard LLP has pursued hundreds of securities,
consumer and shareholder rights cases and recovered over
$3.5 billion for its clients.
The National Law Journal has recognized Bernstein Liebhard
for twelve consecutive years as one of the top plaintiffs' firms in
the country.
You can obtain a copy of the complaint from the clerk of the
court for the United States District Court for the Southern
District of New York.
Bernstein Liebhard LLP
10 East 40th Street
New York, New York 10016
(877) 779-1414
www.bernlieb.com
ATTORNEY ADVERTISING. © 2016 Bernstein Liebhard LLP. The law
firm responsible for this advertisement is Bernstein Liebhard LLP,
10 East 40th Street, New York, New
York 10016, (212) 779-1414. The lawyer responsible for this
advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not
guarantee or predict a similar outcome with respect to any future
matter.
Contact Information
Joseph R. Seidman, Jr.
Bernstein Liebhard LLP
http://www.bernlieb.com
(212) 779-1414
seidman@bernlieb.com
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