Bragar Eagel & Squire Investigates Claims Against Applied Materials, Inc.

On November 5, 2024, Bragar Eagel & Squire, P.C., a leading law firm in stockholder rights, announced that it is looking into possible claims against Applied Materials, Inc. (often referred to as "Applied Materials" or the "Company") for the benefit of its stockholders.

The investigation aims to determine whether Applied Materials might have breached federal securities laws or engaged in other illegal business activities.

Background of Investigation

An investigation by Reuters on November 16, 2023, revealed that Applied Materials was under scrutiny from the U.S. Justice Department regarding possible violations related to export restrictions on China’s primary chipmaker, SMIC. Following this report, the company's shares decreased by $6.19, equivalent to a 4.02% drop, settling at $147.75 on November 17, 2023.

Further reports emerged on February 27, 2024, indicating that Applied Materials had received subpoenas from both the U.S. Securities and Exchange Commission (SEC) and the U.S. Attorney's Office in Massachusetts. These subpoenas were related to shipments to China and sought details related to specific federal award applications. Consequently, the stock price of Applied Materials fell by an additional $5.32, or 2.62%, closing at $197.54 on February 28, 2024.

Investor Information

Investors who have purchased or acquired shares in Applied Materials and experienced losses, especially those who have held their investments long-term or have relevant information, are encouraged to reach out. If you have questions concerning this investigation or your rights related to your investment, please contact Brandon Walker or Marion Passmore via email at [email protected] or by phone at (212) 355-4648. There are no costs or obligations for reaching out.

About Bragar Eagel & Squire, P.C.

Bragar Eagel & Squire, P.C. is well-regarded nationally, maintaining offices in New York and California. The firm is known for representing both individual and institutional investors in various legal matters, including commercial, securities, derivative, and complex litigation in state and federal courts nationwide. For more information about their services, you can visit their website.

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