Kessler Topaz Meltzer & Check, LLP Announces Deadline in Securities Fraud Class Action Lawsuit Against 3D Systems Corp.
RADNOR, Pa., April 24, 2021 (GLOBE NEWSWIRE) – Law firm Kessler Topaz Meltzer & Check, LLP reminds investors that a class action lawsuit for securities fraud has been filed in the U.S. District Court for the Eastern District of New York v. 3D Systems Corp. . (NYSE: DDD) (“3D Systems”) on behalf of those who have bought or acquired 3D Systems securities between May 6, 2020 and March 1, 2021including (the “Class Period”).
Deadline Reminder: Investors who have bought or acquired 3D Systems securities during the lesson period, no later than June 8, 2021try to be appointed as the plaintiff’s principal representative of the class. For more information or to learn how to participate in this litigation, please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. (484) 270-1435; toll free at (844) 887-9500; per email to firstname.lastname@example.org; or click https://www.ktmc.com/3d-systems-class-action-lawsuit?utm_source=PR&utm_medium=Link&utm_campaign=3d
3D Systems provides comprehensive 3D printing and digital manufacturing solutions, including plastics and metals 3D printers, materials, software, on-demand manufacturing services, and digital design tools.
The class period begins on May 6, 2020, when 3D Systems submitted a quarterly report according to Form 10-Q for the quarterly period ending March 31, 2020 after the market closed. As part of this filing, some of the Defendants provided attestations of the following: Among other things, the accuracy of financial reporting, disclosure of material changes in the company’s internal control over financial reporting, and disclosure of any fraud. Thereafter, 3D Systems filed quarterly reports on August 5, 2020 and November 5, 2020 confirming the accuracy of the same information.
On March 1, 2021, 3D Systems published a press release announcing a delay in filing the 10K annual report for the fiscal year ending December 31, 2020. The press release stated in part that 3D Systems was delaying filing its annual report on a Form 10-K and that the delay was “primarily related to the presentation of cash flows related to the divestment process for the software businesses of Cimatron and GibbsCam”. In addition, 3D Systems stated: “The company will report significant weaknesses in internal controls on Form 10-K in its annual report for the 2020 financial year.”
Following the news, 3D Systems stock price fell $ 7.62 per share, or more than 19.6%, from $ 38.79 per share on March 1, 2021 to $ 31.17 per share on March 2, 2021.
The complaint alleges that throughout the classroom, defendants made false and / or misleading statements and / or failed to disclose that: (1) 3D systems did not have proper internal control over financial reporting; and (2) as a result, 3D Systems’ public statements have been materially false and / or misleading at all relevant times.
3D Systems investors can no later than June 8, 2021, attempt to be appointed as the class lead plaintiff by Kessler Topaz Meltzer & Check, LLP, or other attorney, or choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the dispute. To be named lead plaintiff, the court must determine that the class member’s claim is typical of the claims of other class members and that the class member is adequately representing the class. Your ability to get involved in a recovery will not be affected by whether or not you will be the lead plaintiff.
Kessler Topaz Meltzer & Check, LLP, pursues class actions in state and federal courts across the country involving securities fraud, fiduciary violations, and other violations of federal and state law. Kessler Topaz Meltzer & Check, LLP, is a driving force behind corporate governance reform and has reclaimed billions of dollars on behalf of institutional and individual investors from the US and around the world. The company represents investors, consumers and whistleblowers (individuals who report fraudulent practices against the government and are involved in recovering government dollars). The complaint in this lawsuit was not filed by Kessler Topaz Meltzer & Check, LLP. For more information on Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
Kessler Topaz Meltzer & Check, LLP
James Maro Jr., Esq.
Adrienne Bell, Esq.
280 Street of the King of Prussia
Radnor, PA 19087
(844) 887-9500 (toll free)