Legal Proceedings
−Removed: Securities Class Action Lawsuit
−Removed: On December 21, 2020, a putative class action lawsuit against our company and three of our executive officers was filed in the U.S.
−Removed: District Court for the Northern District of California under the caption Kain v.
−Removed: ACM Research, Inc., et al.
−Removed: 3:20-cv-09241, which we refer to as the Securities Class Action.
−Removed: The complaint alleged claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and
−Removed: Rule 10b-5 promulgated thereunder, and sought monetary damages in an unspecified amount as well as costs and expenses incurred in the litigation.
−Removed: On April 15, 2021, the court appointed Mr.
−Removed: Kain as lead plaintiff, finding that no better suited
−Removed: candidates emerged during the statutory sixty-day period following public notice of the lawsuit.
−Removed: On May 27, 2021, defendants filed a motion to dismiss Mr.
−Removed: Kain’s complaint.
−Removed: On September 9, 2021, the court granted defendants’ motion to dismiss with
−Removed: leave to amend.
−Removed: On October 7, 2021, Mr.
−Removed: Kain filed a second amended complaint.
−Removed: On October 21, 2021, defendants filed a motion to dismiss Mr.
−Removed: Kain’s second amended complaint.
−Removed: On December 20, 2021, the court issued an order granting defendants’
−Removed: motion to dismiss with leave to amend.
−Removed: On January 10, 2022, Mr.
−Removed: Kain filed a stipulation of voluntary dismissal.
−Removed: That same day, the court granted the stipulation and dismissed the case with prejudice.
From time to time we may become involved in other legal proceedings or may be subject to claims arising in the ordinary course of our business.
−Removed: Although the results of these proceedings and claims cannot be predicted
−Removed: with certainty, we currently believe that the final outcome of these ordinary course matters will not have a material adverse effect on our business, operating results, financial condition or cash flows.
−Removed: Regardless of the outcome, litigation can
−Removed: have an adverse impact on us because of defense and settlement costs, diversion of management resources and other factors.
+Added: Although the results of these proceedings and claims
+Added: cannot be predicted with certainty, we currently believe that the final outcome of these ordinary course matters will not have a material adverse effect on our business, operating results, financial condition or cash flows.
+Added: Regardless of the
+Added: outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources and other factors.
+Added: As of December 31, 2022, the Company had no outstanding legal proceedings.
+Added: Mine Safety Disclosures
+Added: Not applicable.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.