Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased 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.
Investors suffering losses on their 3D Systems investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
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.”
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.
If you purchased 3D Systems 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 howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20210412005880/en/
INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of 3D Systems Corporation (DDD) Investors
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
