Glancy Prongay & Murray LLP, a leading national shareholder rights law firm, announces that a securities fraud class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Ultra Clean Holdings, Inc. (“Ultra Clean” or the “Company”) (NASDAQ: UCTT) securities between May 6, 2024 to February 24, 2025, inclusive (the “Class Period”). Ultra Clean investors have until May 23, 2025 to file a lead plaintiff motion.
IF YOU SUFFERED A LOSS ON YOUR ULTRA CLEAN HOLDINGS, INC. (UCTT) INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS
What Happened?
On February 24, 2025, Ultra Clean reported its financial results for the fourth quarter and full year ended December 27, 2024. In connection with its earnings, the Company revealed that it was facing “demand softness” in its business “relat[ed] to extended qualification time lines and some inventory digestion.”
On this news, Ultra Clean’s stock price fell $10.16, or 28.2%, to close at $25.90 per share on February 25, 2025, thereby injuring investors.
What Is The Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Ultra Clean’s optimistic reports of significant growth and increased earnings potential fell short of reality as they failed to incorporate the impending weaker demand due to issues one of its major customers was facing, extended qualification timelines, and inventory absorption, particularly given the volatility of the semiconductor industry; and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased or otherwise acquired Ultra Clean securities during the Class Period, you may move the Court no later than May 23, 2025 to request appointment as lead plaintiff in this putative class action lawsuit.
Contact Us To Participate or Learn More:
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Charles Linehan, Esq.,
Glancy Prongay & Murray LLP,
1925 Century Park East, Suite 2100,
Los Angeles California 90067
Email: shareholders@glancylaw.com
Telephone: 310-201-9150,
Toll-Free: 888-773-9224
Visit our website at www.glancylaw.com.
Follow us for updates on LinkedIn, Twitter, or Facebook.
If you inquire by email, please include your mailing address, telephone number and number of shares purchased.
To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250331261872/en/
Contacts
Glancy Prongay & Murray LLP,
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
Charles Linehan
Email: shareholders@glancylaw.com
Telephone: 310-201-9150
Toll-Free: 888-773-9224
Visit our website at: www.glancylaw.com.