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Robbins Arroyo LLP: Veeco Instruments, Inc. (VECO) Misled Shareholders According to a Recently Filed Class Action

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Shareholder rights law firm Robbins
Arroyo LLP
announces that purchasers of Veeco Instruments, Inc.
(NASDAQ:VECO) have filed a class action complaint against the
company's officers and directors for alleged violations of the
Securities Act of 1933 in connection with the May 2017 merger of Veeco
and Ultratech, Inc. Veeco, together with its subsidiaries, develops,
manufactures, sells, and supports semiconductor process equipment
worldwide.

View this information on the law firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/veeco-instruments-inc-aug-2018/

Veeco Accused of Failing to Disclose Increasing Competition in
China

According to the complaint, Veeco's registration statement issued in
connection with its merger to Ultratech, Veeco touted that it generates
a significant portion of its revenue in China. However, increased
Chinese competition, worsening financial metrics, escalating
intellectual property disputes, and severe risk of retaliation in its
critical Chinese markets were having a negative effect on Veeco's
prospects. The truth about Veeco's financial condition came out in
August 2017, when Veeco announced disappointing 2Q 2017 earnings and
guidance. Then, in December 2017, Veeco revealed that a Chinese court
ruled that certain Veeco products infringed Advanced Micro-Fabrication
Equipment, Inc.'s patents and ordered Veeco to stop making and selling
those products in China. Veeco shares currently trade at $11.70 per
share, a 63% decline from the approximately $32 per share price on the
date of the merger.

Veeco Shareholders Have Legal Options

Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Leonid Kandinov at
(800) 350-6003, LKandinov@robbinsarroyo.com,
or via the shareholder
information form
on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested. Sign up for our FREE
portfolio monitoring service, Stock
Watch
.

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