NEW YORK, December 28, 2021--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed in the U.S. District Court for the District of Massachusetts on behalf of those who acquired Desktop Metal, Inc. ("Desktop Metal" or the "Company") (NYSE: DM) securities from March 15, 2021 through November 15, 2021, inclusive (the "Class Period"). Investors have until February 22, 2022 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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 matters raised by a whistleblower complaint, 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 share price declined by $0.39 per share, or approximately 4.2%, from $9.20 per share 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...
The Daily Telegraph removed a false report claiming President Recep Tayyip Erdoğan threatened to "invade Israel," issuing an apology after the story spread through Israeli media. Senior editor Pau...