Kessler Topaz Meltzer & Check, LLP reminds investors of 3D Systems Corp. the class action deadline
RADNOR, PA / ACCESSWIRE / May 29, 2021 / Law firm Kessler Topaz Meltzer & Check, LLP reminds investors of 3D Systems Corp. (NYSE: DDD) (“3D Systems”) that a securities fraud class action lawsuit has been filed on behalf of those who have purchased or acquired 3D Systems securities between May 6, 2020 and March 1, 2021, inclusive (the “Class Period”).
Reminder of the deadline: investors who bought or acquired 3D Systems securitiesduring the Recourse Period may, no later than June 8, 2021, seeks to be appointed principal representative of the applicants of the group. For more information or to find out how to participate in this dispute, 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; by e-mail to[email protected]; orClick on https://www.ktmc.com/3d-systems-class-action-lawsuit?utm_source=PR&utm_medium=Link&utm_campaign=3d
3D Systems provides complete 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 begins on May 6, 2020, when after market close, 3D Systems filed a Quarterly Form 10-Q report for the quarterly period ended March 31, 2020. As part of this filing, some of the defendants included certifications attesting to: among other things, the accuracy of financial information, the disclosure of any material change in the company’s internal control over financial reporting and the disclosure of any fraud. 3D Systems subsequently filed quarterly reports on August 5, 2020 and November 5, 2020, attesting to the accuracy of the same information.
On March 1, 2021, 3D Systems issued a press release announcing a delay in filing its 10-K annual report for the fiscal year ended December 31, 2020. In the relevant part, the press release indicated that 3D Systems would delay filing its annual report on a Form 10-K and that the delay “is primarily related to the presentation of cash flows associated with the process of divesting its Cimatron and GibbsCam software businesses”. In addition, 3D Systems said, “The company will report material weaknesses in internal controls in its FY2020 Annual Report on Form 10-K.”
Following this news, 3D Systems’ share price fell $ 7.62 per share, or more than 19.6%, after closing at $ 38.79 per share on March 1, 2021 to close at 31 , $ 17 per share on March 2, 2021.
The complaint alleges that, throughout the Class Period, the Defendants made false and / or misleading statements and / or failed to disclose that: (1) 3D Systems lacked proper internal controls over financial reporting; and (2) therefore, 3D Systems’ public statements were materially false and / or misleading at all material times.
3D Systems investors can, no later than June 8, 2021, seeks to be appointed as the principal representative of class claimants through Kessler Topaz Meltzer & Check, LLP or another lawyer, or may choose to do nothing and remain an absent class member. A principal plaintiff is a representative party who acts on behalf of all class members in directing the litigation. To be appointed as the Principal 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 will adequately represent the Class. Your ability to participate in any recovery is not affected by the decision whether or not to serve as the principal applicant.
Kessler Topaz Meltzer & Check, LLP is pursuing class actions in state and federal courts across the country relating to securities fraud, breaches of fiduciary duty, and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform and has raised billions of dollars on behalf of institutional and individual investors in the United States and around the world. The company represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and participate in the recovery of public funds). The complaint in this action 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 King of Prussia Road
Radnor, PA 19087
(844) 887-9500 (toll free)
SOURCE: Kessler Topaz Meltzer & Check, LLP
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