Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international shareholder and consumer rights litigation firm, advises investors that a securities class action lawsuit has been filed against Desktop Metal, Inc. (“Desktop Metal” or the “Company”) (NYSE: DM) and certain other defendants. If you purchased shares of Desktop Metal between March 15, 2021 and November 15, 2021, you are encouraged to contact Jonathan Zimmerman for additional information at (888) 398-9312, or at email@example.com. The lead plaintiff deadline is February 22, 2022.
On February 16, 2021, Desktop Metal acquired EnvisionTEC, Inc. and certain of its affiliates (collectively, “EnvisionTEC”), a provider of volume production photopolymer 3D printing solutions for end-use parts.
On November 8, 2021, after the market closed, Desktop Metal disclosed that it was conducting an internal investigation into certain matters, 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 had resigned.
On this news, the price of Desktop Metal stock fell $0.39, or 4%, to close at $8.81 per share on November 9, 2021.
Then, on November 15, 2021, after the market closed, Desktop Metal stated that it would notify the U.S. Food and Drug Administration of “compliance issues with certain shipments of EnvisionTEC’s Flexcera dental resins and its PCA4000 curing box.”
On this news, price of Desktop Metal stock fell $1.19, or 15%, to close at $6.83 per share on November 16, 2021.
Lead Plaintiff Deadline
The Lead Plaintiff deadline in this action is February 22, 2021. Any member of the proposed Class may seek to serve as Lead Plaintiff through counsel of their choice, or may choose to do nothing and remain a member of the proposed Class.
What You Can Do
If you purchased Desktop Metal stock between March 15, 2021 and November 15, 2021, or if you have questions about this notice or your legal rights, you are encouraged to contact attorney Jonathan Zimmerman at (888) 398-9312, or firstname.lastname@example.org.
Scott+Scott has significant experience in prosecuting major securities, antitrust, and consumer rights actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, Virginia, and Ohio.
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