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May 22, 2021, GLOBE NEWSWIRE, PA (GLOBE NEWSWIRE)-Kessler Topaz Meltzer & Check (LLP) Law Firm reminded investors that the US District Court for the Eastern District of New District has filed a securities fraud class action York confronts 3D Systems Corp. (NYSE:DDD) (“3D Systems”) represents a person who purchases or purchases securities of 3D Systems Between May 6, 2020 and March 1, 2021(Inclusive) (“During Class”).
Deadline reminder: Investors buying or buying 3D Systems securities During class, No later than June 8, 2021, Seeking to be appointed as the chief plaintiff representative of this category. For more information or to learn how to participate in the lawsuit, please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. (484) 270-1435; Toll free (844) 887-9500; Send by email to info@ktmc.com; or Click on 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 3D printers for plastics and metals, materials, software, on-demand manufacturing services, and digital design tools.
The class period began on May 6, 2020. After the market was closed, 3D Systems submitted the quarterly report on Form 10-Q for the quarter ended March 31, 2020. As part of the document, certain defendants included proof of, among other things, the accuracy of financial reports, disclosure of any major changes to the company’s internal control over financial reporting, and disclosure of all frauds. Since then, 3D Systems submitted quarterly reports on August 5, 2020 and November 5, 2020, demonstrating the accuracy of the same information.
3D Systems issued a press release on March 1, 2021, announcing the delay in submitting its 10-K annual report for the fiscal year ending December 31, 2020. Regarding the part, the press release stated that 3D Systems will delay the submission of its annual report. The delay on the 10-K form, and the delay is “mainly related to showing the cash flow related to the divestiture of its Cimatron and GibbsCam software businesses”. In addition, 3D Systems said: “The company will report major deficiencies in internal control in its fiscal year 2020 10-K annual report.”
Following this news, 3D Systems’ stock price fell from the closing price of US$38.79 per share on March 1, 2021 to the closing price of US$31.17 per share on March 2, 2021, a decrease of US$7.62, a decrease of more than 19.6%.
The complaint stated that during the entire class, the defendant made false and/or misleading statements and/or failed to disclose the following: (1) 3D Systems lacked proper internal control in financial reporting; (2) As a result, 3D Systems’ The public statement is false and/or misleading at all relevant times.
3D Systems investors may No later than June 8, 2021, Seeking to be appointed as the chief plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other consultants, or may choose not to do anything and remain absent. The lead plaintiff is the representative of the class members who represent all litigations. In order to be appointed as the lead plaintiff, the court must determine that the claim of the class member is a typical feature of the claims of other class members, and that the class member will fully represent the class. Your ability to share any recovery is not affected by the decision whether to act as the main plaintiff.
Attorney Kessler Topaz Meltzer & Check sued in state and federal courts across the country for securities fraud, breach of fiduciary duty, and other class actions that violated state and federal laws. Kessler Topaz Meltzer & Check, LLP is the driving force of corporate governance reform and has recovered billions of dollars on behalf of institutional investors and individual investors in the United States and around the world. The company represents investors, consumers and whistleblowers (private citizens who report fraud against the government and share the recovery of government funds). Kessler Topaz Meltzer & Check, LLP did not file a lawsuit.For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
contact:
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr.
Adrienne Bell, Esq.
280 Prussian Road
Radnor, Pennsylvania 19087
(844) 887-9500 (toll free)
info@ktmc.com
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