Applied Materials Receives Subpoena From Govt. Authorities On Chinese Consignments

(RTTNews) - Applied Materials, Inc. (AMAT), a provider of equipment and software for semiconductor chips makers, has received a subpoena from the U.S. Securities and Exchange Commission or SEC in February, which sought information on certain China customer shipments, the company said in a filing.

The U.S. Attorney's Office for the District of Massachusetts has also sought information from Applied Materials related to certain federal award applications.

Commenting on the matter, the company said: "We are cooperating fully with the government in these matters. These matters are subject to uncertainties, and we cannot predict the outcome, nor reasonably estimate a range of loss or penalties, if any, relating to these matters."

Earlier too, Applied Materials received subpoenas from the authorities related to China shipments. In November 2023, the company received a subpoena from the U.S. Commerce Department's Bureau of Industry and Security.

AMAT was trading down by 3.38 percent at $196 per share in the pre-market trade on the Nasdaq.