Securities
Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses
Exceeding $100,000 In Desktop Metal To Contact Him Directly To Discuss Their
Options
NEW YORK - 
(NewMediaWire) - February 09, 2022 - Faruqi & Faruqi, LLP, a
leading national securities law firm, is investigating potential claims against
Desktop Metal, Inc. (“Desktop Metal” or the “Company”) (NYSE: DM) and reminds
investors of the February 22, 2022 deadline to seek the role of lead plaintiff
in a federal securities class action that has been filed against the Company.
If
you suffered losses exceeding $100,000 investing in Desktop Metal stock or
options between February 17, 2021 and November 15, 2021 and would like to
discuss your legal rights, call Faruqi
& Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional
information: www.faruqilaw.com/DM.
There
is no cost or obligation to you.
Faruqi &
Faruqi is a leading minority and Woman-owned national securities law firm with
offices in New York, Pennsylvania, California and Georgia.
As detailed below, the lawsuit
focuses on whether the Company and its executives violated federal securities
laws by making false and/or misleading statements and/or failing to disclose
that: (1) that there were deficiencies in EnvisionTEC’s manufacturing and
product compliance practices and procedures; (2) that the foregoing
deficiencies presented a material risk to the commercialization of
EnvisionTEC’s products; and (3) that, as a result of the foregoing, Defendants’
positive statements about the Company’s business, operations, and prospects
were materially misleading and/or lacked a reasonable basis.
On February 16, 2021, the
Company 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 US LLC had
resigned.
On this news, the Company’s
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, the Company stated that it would notify the U.S. Food
and Drug Administration (“FDA”) of “compliance issues with certain shipments of
EnvisionTEC’s Flexcera dental resins and its PCA4000 curing box.”
On this news, Desktop Metal’s
stock fell $1,19, or 14.8% to close at $6.83 per share on November 16, 2021,
thereby injuring investors.
The court-appointed lead
plaintiff is the investor with the largest financial interest in the relief
sought by the class who is adequate and typical of class members who directs
and oversees the litigation on behalf of the putative class. Any member of the
putative class may move the Court to serve as lead plaintiff through counsel of
their choice, or may choose to do nothing and remain an absent class member. Your
ability to share in any recovery is not affected by the decision to serve as a
lead plaintiff or not.
Faruqi & Faruqi, LLP also
encourages anyone with information regarding Desktop Metal’s conduct to contact
the firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law
firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com).
Prior results do not guarantee or predict a similar outcome with respect to any
future matter. We welcome the opportunity to discuss your particular case. All
communications will be treated in a confidential manner.
View the original release on www.newmediawire.com
