A lawsuit was filed on behalf of investors in Desktop Metal, Inc. (NYSE:DM) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 01/26/2022 -- An investor, who purchased NYSE: DM shares , filed a lawsuit against Desktop Metal, Inc over alleged violations of Federal Securities Laws by Desktop Metal, Inc.
Investors who purchased shares of Desktop Metal, Inc. (NYSE: DM) have certain options and for certain investors are short and strict deadlines running. Deadline: February 21, 2022. NYSE: DM investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
Burlington, MA based Desktop Metal, Inc. manufactures and sells additive manufacturing solutions for engineers, designers, and manufacturers in the Americas, Europe, the Middle East, Africa, and the Asia- Pacific.
On February 16, 2021, Desktop Metal, Inc. acquired EnvisionTEC, Inc. and certain of its affiliates (collectively, "EnvisionTEC"), a provider of volume production photopolymer 3D printing solutions for end use parts.
After the market closed on November 8, 2021, Desktop Metal, Inc. announced an independent investigation resulting from an internal whistleblower complaint concerning the company's EnvisionTec subsidiary.
Then, on November 15, the CEO of EnvisionTec resigned and the company disclosed compliance issues with shipments from EnvisionTec resulting in FDA regulatory activity.
Shares of Desktop Metal, Inc. (NYSE: DM) declined from $9.29 per share on November 8, 2021, to as low as $6.22 per share on November 30, 2021.
The plaintiff claims that between March 15, 2021 and November 15, 2021, the Defendants failed to disclose to investors that there were deficiencies in EnvisionTEC's manufacturing and product compliance practices and procedures, that the foregoing deficiencies presented a material risk to the commercialization of EnvisionTEC's products, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis
Those who purchased shares of Desktop Metal, Inc. (NYSE: DM) have certain options and should contact the Shareholders Foundation.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.