The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of those who acquired 3D Systems Corporation ("3D Systems" or the "Company") (NYSE: DDD) securities during the period from May 6, 2020 through March 1, 2021, inclusive (the "Class Period"). Investors have until June 8, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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 would 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-10-K with the SEC, stating that their 10- K filing would be delayed.
On this news, 3D Systems’ stock price declined by $7.62 per share, or more than 19.6%, from closing at $38.79 per share on March 1, 2021 to close at $31.17 per share on March 2, 2021, damaging investors.
The lawsuit alleges that throughout the Class Period 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) as a result, 3D Systems’ public statements were materially false and/or misleading at all relevant times.
If you acquired 3D Systems securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney at 212-371-6600, by email at firstname.lastname@example.org, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney’s website: www.kmllp.com.
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