SAN FRANCISCO, CA / ACCESSWIRE / December 24, 2021 / Hagens Berman urges Desktop Metal, Inc. (NYSE:DM) investors with significant losses to submit your losses now.
Lead Plaintiff Deadline: Feb. 22, 2022
Visit:www.hbsslaw.com/investor-fraud/DM
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844-916-0895
Desktop Metal, Inc. (DM) Securities Class Action:
The complaint alleges that Defendants made false and misleading statements concerning Desktop Metal's widely touted $300 million acquisition of EnvisionTEC, which closed on Feb. 16, 2021.
Specifically, Defendants misrepresented and concealed: (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
The truth began to emerge on Nov. 8, 2021, when 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 EnvisionTEC's founder and CEO (Ali El Siblani) had resigned.
Then, on Nov. 15, 2021, the Company announced that, as of Nov. 12, 2021, based...
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