According to the Complaint, Kulick and Soffa Industries, Inc. designs, manufactures, and sells capital equipment and expendable tools to assemble semiconductor devices.

On May 11, 2018, Plaintiff's law firm issued a press release announcing the filing of the Complaint. The Complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Kulicke and Soffa’s consolidated financial statements for the fiscal year ending September 30, 2017 could no longer be relied upon due to misstated warranty accruals; and (2) as a result, Defendants’ public statements were materially false and misleading at all relevant times.

On September 11, 2018, the Court issued an Order appointing Lead Plaintiffs and Counsel. On October 24, Lead Plaintiffs filed an amended Complaint. Defendants filed a Motion to Dismiss the amended Complaint on November 7.

On January 22, 2019, the Court issued an Order transferring this case to the Eastern District of Pennsylvania. Defendants filed a Motion to Dismiss the amended Complaint on March 8. On October 9, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were given leave to amend the Complaint. Plaintiffs filed a Notice of Intent not to Amend, and on November 15, the Court issued an Order dismissing the case.