asml investors face crucial deadline in lawsuit over financial missteps
Veldhoven, Monday, 6 January 2025.
ASML Holding N.V. is under legal scrutiny as a class action lawsuit claims misleading financial forecasts. The lawsuit, filed in the U.S. District Court for the Southern District of New York, alleges that ASML’s executives violated federal securities laws by providing false information about the semiconductor industry and customer demand. Investors who suffered financial losses have until January 13, 2025, to join the case. This legal action follows ASML’s sharp stock decline after disappointing earnings reports in October 2024, which revealed a slower than anticipated recovery in the semiconductor market. The outcome of this lawsuit could significantly impact ASML’s stock valuation as the company navigates its financial recovery strategy. Investors are encouraged to contact law firms representing the case to explore their legal options without upfront costs.
Stock performance and financial revelations
ASML’s stock experienced significant turbulence after reporting lower-than-expected financial results. On October 15, 2024, the company’s share price plummeted from $872.27 to $730.43, marking a 16% decline [1]. The following day brought additional losses of 6.4% as the stock fell to $683.52 [1]. These drops coincided with ASML’s announcement of quarterly bookings at €2.63 billion, representing a 53% decrease from €5.6 billion in Q2 2024 [2].
Revised guidance and industry outlook
The company has significantly adjusted its financial projections. ASML reduced its full-year 2025 sales guidance to €30-35 billion from the initial €30-40 billion range, while also lowering its gross margin target to 51-53% from 54-56% [2]. CEO Christophe Fouquet acknowledged that the semiconductor industry’s recovery would extend well into 2025, leading to a reduced growth curve [2]. These revelations prompted concerns about ASML’s market position and future prospects.
Legal claims and class action details
The lawsuit, filed as Matar v. ASML Holding N.V., No. 24-cv-9908, alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 [1]. The class period spans from January 24, 2024, to October 15, 2024 [3]. The complaint argues that ASML created false impressions about customer demand while downplaying risks from macroeconomic fluctuations and export regulations [3]. Multiple law firms, including Rosen Law Firm and Levi & Korsinsky, are representing affected investors [5].