GlobeNewswire Inc | Dec 22, 2020 03:52PM EST

December 22, 2020

NEW YORK, Dec. 22, 2020 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of those who acquired ACM Research, Inc. (ACM Research or the Company) (NASDAQ: ACMR) securities during the period from March 6, 2019 through October 7, 2020 (the Class Period). Investors have until February 19, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

The lawsuit alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Companys business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Companys revenue and profits had been diverted to undisclosed related parties; (ii) accordingly, the Company had materially overstated its revenues and profits; and (iii) as a result, the Companys public statements were materially false and misleading at all relevant times.

On October 8, 2020, analyst J Capital Research (J Capital) published a report concerning ACM Research, in which J Capital concluded that ACM Research is a fraud, over-reporting both revenue and profit. The report cited, among other things, J Capitals visits to sites in China, Korea, and California and more than 40 interviews. J Capital asserted that [w]hat real profit the company has is apparently being siphoned off to related parties. The J Capital report concluded that ACM Researchs revenue was overstated by 15-20% and claimed to have evidence that undisclosed related parties are diverting revenue and profit from the company.

On this news, ACM Researchs stock price fell $1.09 per share, or approximately 1.52%, from $71.88 per share to close at $70.79 per share on October 8, 2020.

If you purchased or otherwise acquired ACM Research securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney LLP is a New York-based plaintiffs law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firms efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLPs website: http://www.kmllp.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

ContactsKirby McInerney LLPThomas W. Elrod, Esq.212-371-6600 https://www.kmllp.cominvestigations@kmllp.com