Law Offices of Howard G. Smith announces an investigation on behalf of Synopsys, Inc. (NASDAQ: SNPS) investors concerning the Company’s possible violations of federal securities laws.
On April 13, 2022, news outlets reported that Synopsys is under investigation by the U.S. Department of Commerce for possibly passing key technology to banned Chinese companies. Specifically, investigators are looking into whether Synopsys provided chip designs and software to Huawei Technologies Co.’s HiSilicon unit for manufacture at Semiconductor Manufacturing International Corp. (“SMIC”). 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’ share price fell $4.11 to close at $306.72 per share on April 13, 2022, thereby injuring investors.
