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LOS ANGELES, Dec. 14, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Semiconductor Manufacturing International Corporation ("Semiconductor" or "the Company") (NYSE: GWRE) investors that acquired securities between April 23, 2020 and September 26, 2020.
It is alleged in the complaint that Semiconductor made misleading and/or false statements to the market. SMIC suffered from an increased chance of U.S. sanctions as a result of an “unacceptable risk” that equipment supplied to Semiconductor would be used for military applications. Semiconductor’s suppliers would require “difficult-to-obtain” individual export licenses due to these restrictions. Semiconductor’s public statements were false and materially misleading, based on these facts. Investors suffered damages when the market learned the truth about SMIC.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.