{"id":403248,"date":"2020-12-19T15:21:05","date_gmt":"2020-12-19T20:21:05","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=403248"},"modified":"2020-12-19T15:21:05","modified_gmt":"2020-12-19T20:21:05","slug":"shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-semiconductor-manufacturing-international-corporation-smicy","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-semiconductor-manufacturing-international-corporation-smicy\/","title":{"rendered":"SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims\u00a0On Behalf of Investors of Semiconductor Manufacturing International Corporation – SMICY"},"content":{"rendered":"
\n

NEW YORK, Dec. 19, 2020 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Semiconductor Manufacturing International Corporation (\u201cSMIC\u201d or the \u201cCompany\u201d) (OTCMKTS:\u00a0SMICY).\u00a0\u00a0 Such investors are advised to contact Robert S. Willoughby at \u00a0newaction@pomlaw.com<\/u><\/a> or 888-476-6529, ext. 7980.<\/p>\n

The investigation concerns whether SMIC and certain of its officers and\/or directors have engaged in securities fraud or other unlawful business practices.\u00a0<\/p>\n

\n
\n
\n [Click here for information about joining the class action]<\/u>
\n <\/strong>
\n <\/a>\n <\/p>\n

On September 4, 2020, Reuters<\/em> published an article entitled \u201cEXCLUSIVE-Trump administration weighs blacklisting China\u2019s chipmaker SMIC\u201d which reported that \u201c[t]he Trump administration is considering whether to add China\u2019s top chipmaker SMIC to a trade blacklist,\u201d a measure \u201cwhich would force U.S. suppliers to seek a difficult-to-obtain license before shipping to the company.\u201d\u00a0<\/p>\n

On this news, SMIC American Depositary Receipt (\u201cADR\u201d) fell $3.08 per ADR, or over 20%, to close at $12.02 per ADR on September 8, 2020, the next trading day.\u00a0<\/p>\n

Then, on September 26, 2020, Reuters<\/em> published an article entitled \u201cU.S. tightens exports to China\u2019s chipmaker SMIC, citing risk of military use\u201d which reported that \u201c[t]he United States has imposed restrictions on exports to China\u2019s biggest chip maker SMIC after concluding that there is an \u2018unacceptable risk\u2019 equipment supplied to it could b used for military purposes,\u201d meaning that \u201c[s]uppliers of certain equipment to [SMIC] will now have to apply for individual export licenses.\u201d\u00a0<\/p>\n

On this news, SMIC\u2019s ADR price fell $0.57 per ADR, or 4.7%, to close at $11.47 per ADR on September 28, 2020.<\/p>\n

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com<\/u><\/a>.<\/p>\n

\n CONTACT:
<\/strong>Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com<\/u><\/a>
<\/a>888-476-6529 ext. 7980<\/p>\n

\n
\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, Dec. 19, 2020 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Semiconductor Manufacturing International Corporation (\u201cSMIC\u201d or the \u201cCompany\u201d) (OTCMKTS:\u00a0SMICY).\u00a0\u00a0 Such investors are advised to contact Robert S. Willoughby at \u00a0newaction@pomlaw.com or 888-476-6529, ext. 7980. The investigation concerns whether SMIC and certain of its officers and\/or directors have engaged in securities fraud or other unlawful business practices.\u00a0 [Click here for information about joining the class action] On September 4, 2020, Reuters published an article entitled \u201cEXCLUSIVE-Trump administration weighs blacklisting China\u2019s chipmaker SMIC\u201d which reported that \u201c[t]he Trump administration is considering whether to add China\u2019s top chipmaker SMIC to a trade blacklist,\u201d a measure \u201cwhich would force U.S. suppliers to seek a difficult-to-obtain license … <\/p>\n

Continue reading “SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims\u00a0On Behalf of Investors of Semiconductor Manufacturing International Corporation – SMICY”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-403248","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims\u00a0On Behalf of Investors of Semiconductor Manufacturing International Corporation - SMICY - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-semiconductor-manufacturing-international-corporation-smicy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims\u00a0On Behalf of Investors of Semiconductor Manufacturing International Corporation - SMICY - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NEW YORK, Dec. 19, 2020 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Semiconductor Manufacturing International Corporation (\u201cSMIC\u201d or the \u201cCompany\u201d) (OTCMKTS:\u00a0SMICY).\u00a0\u00a0 Such investors are advised to contact Robert S. Willoughby at \u00a0newaction@pomlaw.com or 888-476-6529, ext. 7980. 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