PHILADELPHIA, PA / ACCESSWIRE / December 1, 2023 / Kehoe Law Firm, P.C. is investigating whether certain directors and officers of AppliedMaterials, Inc. ("Applied Materials") (NASDAQ:AMAT) failed to manage Applied Materials in an acceptable manner, in breach of their fiduciary duties to Applied Materials, and whether Applied Materials and its shareholders have suffered damages as a result.

On November 16, 2023, Reuters reported that Applied Materials was ". . . under U.S. criminal investigation for potentially evading export restrictions on China's top chipmaker SMIC, according to three people familiar with the matter."

INVESTORS OF APPLIED MATERIALS STOCK ARE ENCOURAGED TO CLICK HERE OR EMAIL INFO@KEHOELAWFIRM.COM TO CONTACT KEHOE LAW FIRM, P.C. TO DISCUSS THE BREACH OF FIDUCIARY DUTIES INVESTIGATION AND POTENTIAL LEGAL CLAIMS.

According to Reuters, "[t]he largest U.S. semiconductor equipment maker is being probed by the Justice Department for sending equipment to SMIC via South Korea without export licenses, the sources said. Hundreds of millions of dollars of equipment is involved, one of the people said."

Reuters also reported that "Santa Clara, California-based Applied Materials said . . . it first disclosed in October 2022 that it had received a subpoena from the U.S. Attorney's Office in Massachusetts for information on certain China customer shipments."

SHAREHOLDERS OF APPLIED MATERIALS ARE ALSO ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, MYARNOFF@KEHOELAWFIRM.COM, INFO@KEHOELAWFIRM.COM, TO LEARN MORE ABOUT THE APPLIED MATERIALS INVESTIGATION.

Kehoe Law Firm, P.C. is a multidisciplinary, plaintiff-side law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Combined, the partners at Kehoe Law Firm, P.C. have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.

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SOURCE: Kehoe Law Firm, P.C.