Kessler Topaz Meltzer & Check, LLP: Announces Securities Fraud Class Action Lawsuit Filed Against Desktop Metal, Inc. | 2022-01-22 | Press Releases

Radnor, Pa.–(Newsfile Corp. – January 22, 2022) – The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is informing investors that a securities class action lawsuit has been filed against Desktop Metal, Inc. ( “Desktop Metal”) (NYSE:DM). The lawsuit alleges that Desktop Metal violated federal securities laws, including omissions and fraudulent misrepresentations regarding the company’s business, operations and prospects. Desktop Metal’s investors have suffered significant losses as a result of Desktop Metal’s materially misleading public statements.

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DEADLINE FOR PLAINTIFF: February 22, 2022

COURSE PERIOD: March 15, 2021 to November 15, 2021

CONTACT AN ATTORNEY TO DISCUSS YOUR RIGHTS:

James Maro, Esq. (484) 270-1453 or toll free (844) 887-9500 or email info@ktmc.com

DESKTOP METALS ALLEGED MISCONDUCT

Desktop Metal manufactures and sells additive manufacturing solutions for engineers, designers and manufacturers. Its platforms include Shop System, an affordable turnkey binding jetting platform to bring metal 3D printing to machine shops and job shops. On February 16, 2021, Desktop Metal acquired EnvisionTEC, Inc. and certain of its affiliates (collectively, “EnvisionTEC”), a provider of photopolymer 3D printing solutions for the mass production of end-use parts.

On November 8, 2021, Desktop Metal announced that “[o]On November 4, 2021, the Audit Committee of Desktop Metal, Inc.’s Board of Directors engaged a third party to conduct an independent internal investigation in response to a whistleblower complaint relating, among other things, to manufacturing and product compliance practices and Proceedings relating to a subset of its photopolymer equipment and materials at its EnvisionTec US LLC facility in Dearborn, Michigan.” In addition, Desktop Metal announced that the Chief Executive Officer of EnvisionTec US LLC has resigned. Following this news, Desktop Metal’s stock fell $0.39, or 4%, to close at $8.81 per share on November 9, 2021.

Then, on November 15, 2021, Desktop Metal stated that it would notify the U.S. Food and Drug Administration of “compliance issues with certain shipments of EnvisionTEC’s Flexcera dental resins and its PCA4000 curing box.” Following this news, Desktop Metal’s stock fell $1.19, or 15%, to close at $6.83 per share on November 16, 2021.

WHAT CAN I DO?

Desktop Metalinvestors can, by February 22, 2022 at the latest, seek to be appointed lead plaintiff representative in the class action by Kessler Topaz Meltzer & Check, LLP or other counsel, or may elect to do nothing and remain an absentee class plaintiff. Kessler Topaz Meltzer & Check, LLP encourages Desktop Metal investors who have suffered material losses to contact the Company directly for additional information.

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Who can be a lead plaintiff?

A Lead Plaintiff is a representative party acting on behalf of all Group Members in conducting the litigation. The lead plaintiff is usually the investor or small group of investors who have the greatest financial interest and who are also appropriate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class, and such attorneys, where permitted by the court, are principal or class counsel. Your ability to participate in a recovery will not be affected by the decision whether or not to serve as Lead Plaintiff.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP

Kessler Topaz Meltzer & Check, LLP is pursuing class action lawsuits in state and federal courts across the country and around the world. The company has built an excellent reputation around the world, recovering billions of dollars from victims of fraud and other corporate wrongdoing. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, wrongdoing and negligence on the part of companies and fiduciaries. At the end of the day, if the bad guys pay and you get your fortune back, we’re done. The action in this lawsuit was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP, visit www.ktmc.com.

CONTACT:

Kessler Topaz Meltzer & Check, LLP

James Maro, Jr., Esq.

280 König-von-Prussia-Strasse

Radnor, PA 19087

(844) 887-9500 (toll free)

info@ktmc.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/111131

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