Amtech Systems, Inc. (NASDAQ: ASYS)

This investigation is for anyone who acquired securities in Amtech Systems, Inc. (NASDAQ: ASYS) prior to December 14, 2023.

The Law Offices of Howard G. Smith believes that the Company and certain of its executives violated federal law. Specifically, the Law Offices of Howard G. Smith believes that the Company misled investors regarding its financial condition. More specifically, the Law Offices of Howard G. Smith believes that the Company misled investors by knowing, but actively concealing issues that the Company was having in its Materials and Substrate segment that were substantial enough for the Company to eventually have to take a write off.

On August 10, 2023, the Company announced that it missed Second Quarter 2023 earnings and the abrupt departure of the Company’s CEO. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on December 14, 2023, Amtech announced that it anticipated taking an impairment charge in its Materials and Substrate segment in part due to a “prolonged downturn . . . in the semiconductor industry and delays in the adoption of next-gen polishing tools.” The Company made this announcement despite that it does not appear that there has been a downturn in the semiconductor industry and that if there was actually a downturn affecting the Company, the Company should have know about it prior to abruptly taking an impairment. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Amtech Systems, Inc. (NASDAQ: ASYS) prior to December 14, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.