Rosen Law Firm, a global investor right law firm, announced recently it is investigating potential securities claims on behalf of shareholders of Aixtron resulting from allegations that Aixtron might have issued materially misleading business information to the investing public.
On December 9, 2015, Aixtron announced major Chinese LED chip maker San’an Opto had slashed its AIX R6 MOCVD systems order from 50 down to three, which it had delivered.
Despite efforts made by both parties, San’an Opto had cut its orders mainly because the machines did not meet specific qualification requirements, stated Aixtron. Both parties agreed to continue their existing partnership, and will continue to collaborate on future system generations as well as on systems for other applications.
In spite of the massive drop in San’an Opto orders, Aixtron estimated it would still generate full-year revenues of approximately EUR 190 million (US $ 208.37 million) in 2015. It projected its revenue in 2016 would match the same level as 2015.
Following the announcement, Aixtron shares fell $3.05 per share or over 40% over the next two days to close at $4.49 per share on December 10, 2015, damaging investors.
