Feb. 12 at 4:04 AM
$AMAT Applied Materials Reaches Resolution with the U.S. Department of Commerce
"The settlement resolves BIS's allegations that certain customer shipments to China between Nov. 2020 and July 2022 did not comply with the U.S. Export Administration Regulations, based on the company's misunderstanding of the applicability of those regulations. Under the terms of the settlement, Applied has agreed to pay
$252.5 million to the Department of Commerce. In addition, the U.S. Department of Justice and the U.S. Securities and Exchange Commission (SEC) have notified Applied that they have closed their related investigations without action."