What settlement did Applied Materials reach with the US Commerce Department?

Applied Materials reached a civil settlement of $252.5 million with the US Commerce Department.

Were there other investigations into Applied Materials' exports?

Yes, the US Justice Department and the Securities and Exchange Commission also had related probes into the matter, which have since been closed without action.

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Applied Materials Pays $252.5M to Settle Export Probe

Q: What was the US Commerce Department investigation into Applied Materials about?

The investigation concerned allegations that certain shipments to China between November 2020 and July 2022 did not comply with export regulations.

12 Feb

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Summary

Company agrees to $252.5 million civil settlement with Commerce Department.
Investigation involved alleged improper exports to China from late 2020 to mid-2022.
Related probes by Justice and SEC closed without action against the company.

Applied Materials Pays $252.5M to Settle Export Probe

Applied Materials Inc. has agreed to a $252.5 million civil settlement with the US Commerce Department, concluding an investigation into alleged improper exports. The settlement resolves claims that certain shipments to China between November 2020 and July 2022 violated export regulations. This agreement brings closure to a protracted issue for the leading American supplier of chipmaking machinery.

This resolution also means that related probes initiated by the US Justice Department and the Securities and Exchange Commission have been closed without any enforcement actions against Applied Materials. The investigations had previously cast uncertainty over the Santa Clara, California-based company and impacted its stock performance. These proceedings occurred amid increasing restrictions on exporting semiconductors and manufacturing technology to China.

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