INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Desktop Metal, Inc. (DM) on Behalf of Investors
BENSALEM, Pa.--(BUSINESS WIRE)--Nov 16, 2021--
Law Offices of Howard G. Smith announces an investigation on behalf of Desktop Metal, Inc. (“Desktop Metal” or the “Company”) (NYSE: DM ) investors concerning the Company’s possible violations of federal securities laws.
On November 8, 2021, after the market closed, Desktop Metal disclosed that it was conducting an internal investigation into matters raised by a whistleblower complaint, including “manufacturing and product compliance practices and procedures with respect to a subset of its photopolymer equipment and materials at its EnvisionTec US LLC facility.” The Company also stated that the Chief Executive Officer of EnvisionTec US LLC had resigned.
On 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, the Company stated that it would notify the U.S. Food and Drug Administration (“FDA”) of “compliance issues with certain shipments of EnvisionTEC’s Flexcera dental resins and its PCA4000 curing box.”
On this news, Desktop Metal’s stock dropped as much as 19.5% during intraday trading on November 16, 2021, thereby injuring investors.
If you purchased Desktop Metal securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com:https://www.businesswire.com/news/home/20211116006286/en/
CONTACT: Law Offices of Howard G. Smith
Howard G. Smith, Esquire
KEYWORD: PENNSYLVANIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES
SOURCE: Law Offices of Howard G. Smith
Copyright Business Wire 2021.
PUB: 11/16/2021 02:11 PM/DISC: 11/16/2021 02:11 PM