NEW YORK, April 28, 2022 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Synopsys, Inc. (“Synopsys” or the “Company”) (NASDAQ: SNPS). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Synopsys and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On April 13, 2022, Bloomberg published an article reporting that Synopsys “is under investigation by the U.S. Department of Commerce for possibly passing key technology to banned Chinese companies”. Citing “people familiar with the matter”, the article reported that “[i]nvestigators are looking into allegations that Synopsys, working with affiliates in China, provided chip designs and software to Huawei Technologies Co.’s HiSilicon unit for manufacture at Semiconductor Manufacturing International Corp.” As the article noted, “U.S. companies are barred from selling some types of technology to Huawei and SMIC because they’ve been designated as threats to national security by the Commerce Department’s Bureau of Industry and Security.” On this news, Synopsys’s stock price fell sharply over the following two trading sessions.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
