A lawsuit was filed on behalf of investors in Stratasys, Ltd. (NASDAQ:SSYS) shares over alleged securities laws violations. Deadline: April 6, 2015. NASDAQ:SSYS investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/09/2015 -- An investor, who purchased shares of Stratasys, Ltd. (NASDAQ:SSYS), filed a lawsuit in the U.S. District Court for the District of Minnesota over alleged violations of Federal Securities Laws by Stratasys, Ltd. in connection with certain allegedly false and misleading statements made between May 9, 2014 and February 2, 2015.
Investors who purchased a significant amount of shares of Stratasys, Ltd. (NASDAQ:SSYS) between May 9, 2014 and February 2, 2015, have certain options and for certain investors are short and strict deadlines running. Deadline: April 6, 2015. NASDAQ:SSYS investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Stratasys, Ltd. (NASDAQ:SSYS) common shares between May 9, 2014 and February 2, 2015, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that between May 9, 2014 and February 2, 2015 defendants repeatedly issued positive statements regarding Stratasys, Ltd's recently acquired subsidiary MakerBot and its products and significantly raised the Company's 2014 financial guidance and that as a result of these allegedly false and misleading statements and omissions, Stratasys, Ltd stock traded at allegedly artificially inflated prices between May 9, 2014 and February 2, 2015, reaching a high of $129.28 in September 2014 and allowing the Company to complete two stock offerings which netted the selling shareholders more than $230 million.
On February 2, 2015, Stratasys, Ltd. reported its preliminary fiscaly 2014 financial results and provided its 2015 guidance. Stratasys, Ltd said that during December 2014, Stratasys, Ltd updated the goodwill impairment analysis of its MakerBot reporting unit and that as a result, Stratasys, Ltd expects to recognize a non-cash, non-tax-deductible goodwill impairment charge of approximately $100 to $110 million in the fourth quarter. Stratasys, Ltd said that the fourth quarter was impacted by slower growth of MakerBot product and services revenue during the period. Stratasys Ltd also announced that it expects to report fiscal year 2014 revenue in the range of $748 to $750 million. However, the plaintiff says that this is lower than the $764 million analysts had been modeling and below prior guidance of $750 million to $770 million.
Furthermore, Stratasys, Ltd announced that for 2015, it expected revenues of $940 million to $960 million, However, the plaintiff says that this is lower than market expectations of $1 billion.
Shares of Stratasys, Ltd. declined to as low as $51.55 per share on February 3, 2015.
On February 5, 2015, NASDAQ:SSYS shares closed at $62.34 per share.
Those who purchased shares of Stratasys, Ltd. (NASDAQ:SSYS) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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