LOS ANGELES, Jan. 7, 2021 /PRNewswire/ — The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Semiconductor Manufacturing International Corporation (“SMIC” or “the Company”) (OTC: SMICY) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s securities between April 23, 2020 and September 26, 2020, inclusive (the ”Class Period”), are encouraged to contact the firm before February 8, 2021.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at email@example.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. SMIC suffered from an increased chance of U.S. sanctions due to an “unacceptable risk” that equipment supplied to the Company would be used for military applications. Due to these restrictions, the Company’s suppliers would require “difficult-to-obtain” individual export licenses. Based on these facts, the Company’s public statements were false and materially misleading. When the market learned the truth about SMIC, investors suffered damages.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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