AP NEWS
ADVERTISEMENT
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces the Filing of a Securities Class Action on Behalf of 3D Systems Corporation (DDD) Investors

April 12, 2021 GMT

LOS ANGELES--(BUSINESS WIRE)--Apr 12, 2021--

Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired 3D Systems Corporation (“3D Systems” or the “Company”) (NYSE: DDD ) securities between May 6, 2020 and March 1, 2021, inclusive (the “Class Period”). 3D Systems investors have until June 8, 2021 to file a lead plaintiff motion.

ADVERTISEMENT

If you suffered a loss on your 3D Systems investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/3d-systems-corporation/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

3D Systems is a holding company that offers three-dimensional (3D) printing solutions, including 3D printers, print materials, software, on demand manufacturing services and digital design tools.

On March 1, 2021, 3D Systems issued a press release advising investors that it will delay the filing of its annual report on a Form 10-K. The Company stated that “the delay in filing is primarily related to the presentation of cash flows associated with the divestiture process for its Cimatron and GibbsCam software businesses.” 3D Systems also stated that it had identified “certain internal control deficiencies” and that, as a result, it would “report material weaknesses in internal controls in its fiscal 2020 Annual Report on Form 10-K.”

ADVERTISEMENT

On March 2, 2021, 3D Systems filed a NT-10K with the SEC, stating that its 10-K filing would be delayed for the reasons listed in their March 1, 2021 press release.

On this news, 3D Systems’ stock price fell $7.62 per share, or 19.6%, to close at $31.17 per share on March 2, 2021, thereby injuring investors.

The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) 3D Systems lacked proper internal controls over financial reporting; and (2) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Follow us for updates on LinkedIn, Twitter, or Facebook.

If you purchased or otherwise acquired 3D Systems securities during the Class Period, you may move the Court no later than June 8, 2021 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

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/20210412005887/en/

CONTACT: Glancy Prongay & Murray LLP, Los Angeles

Charles H. Linehan, 310-201-9150 or 888-773-9224

1925 Century Park East, Suite 2100

Los Angeles, CA 90067

www.glancylaw.com

shareholders@glancylaw.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: Glancy Prongay & Murray LLP

Copyright Business Wire 2021.

PUB: 04/12/2021 03:30 PM/DISC: 04/12/2021 03:30 PM

http://www.businesswire.com/news/home/20210412005887/en