Kaskela Law LLC Announces Shareholder Class Action Lawsuit Against 3D Systems Corp. (DDD) and ...
PHILADELPHIA, April 17, 2021 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that a shareholder class action lawsuit has been filed against 3D Systems Corp. (“3D Systems” or the “Company”) (NYSE: DDD) on behalf of investors who purchased shares of the Company’s stock between May 6, 2020 and March 1, 2021, inclusive (the “Class Period”).
IMPORTANT DEADLINE: Investors who purchased 3D Systems common stock during the Class Period may, no later than June 8, 2021, seek to be appointed as a lead plaintiff representative in the action.
3D Systemsinvestors who suffered an investment loss in excess of $500,000 are encouraged to contactKaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 – 1585, or by email firstname.lastname@example.org online athttps://kaskelalaw.com/case/3d-systems-corp/,to discuss the opportunity to actively participate in the action as a lead plaintiff representative.
According to the complaint, on March 1, 2021, 3D Systems announced that it would “delay filing its Annual Report on Form 10-K for the fiscal year ended December 31, 2020.” In doing so, 3D Systems revealed 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 further disclosed that “[i]n the course of preparing its financial results for the fourth quarter and full year 2020, [3D Systems] discovered certain internal control deficiencies” and that “[a]s a result, [3D Systems] will report material weaknesses in internal controls in its fiscal 2020 Annual Report on Form 10-K.”
Following this news, shares of the Company’s common stock fell$7.62 per share, or nearly 20% in value, to close at $31.17 on March 2, 2021, on heavy trading volume.
3D Systems investors who suffered an investment loss in excess of $500,000 are encouraged to contact Kaskela Law LLC to discuss the opportunity to actively participate in the action as a lead plaintiff representative. Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.