SAN FRANCISCO, CA / ACCESSWIRE / November 19, 2021 / Hagens Berman urges Desktop Metal, Inc. (NYSE: DM) investors with significant losses at submit your losses now. The company is investigating possible securities law violations and some investors may have interesting claims.
Contact a lawyer now:[email protected]
Desktop Metal, Inc. (DM) survey:
The investigation focuses on Desktop Metal’s disclosures regarding its widely touted $ 300 million acquisition of EnvisionTEC, which closed on February 16, 2021, including the company’s claims that the acquisition positioned Desktop well. Metal to provide customers with a comprehensive platform on polymers and metals for volume production photopolymer 3D printing solutions for end-use parts.
A few months after the acquisition, on November 8, 2021, the company announced that in response to a whistleblower complaint, its audit committee had initiated an internal investigation into manufacturing and compliance practices and procedures at the plant. company of EnvisionTEC in Dearborn, Michigan. The company said the complaint and investigation concerned EnvisionTEC’s manufacturing and compliance procedures for certain polymer equipment and materials.
On the same day, Desktop Metal announced the resignation of the founder and CEO of EnvisionTEC (Al Siblani).
Then, on November 15, 2021, the company announced that effective November 12, 2021, based on compliance issues with certain shipments of EnvisionTEC’s Flexera dental resins and its PCA4000 curing box, the company would notify the FDA. .
These events caused the Desktop Metal share price to fall sharply.
“We are focusing on investor losses and whether Desktop Metal lied about the benefits of acquiring EnvisionTEC,” said Reed Kathrein, Hagens Berman’s partner who is leading the investigation.
If you have invested in Desktop Metal and suffered significant losses, or have knowledge that could help the company’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Those with non-public information regarding Desktop Metal should consider their options to assist with the investigation or take advantage of the SEC’s whistleblower program. Under the new program, whistleblowers who provide original information can receive rewards totaling up to 30% of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or send an email to [email protected]
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Reed Kathrein, 844-916-0895
THE SOURCE: Hagens Berman Sobol Shapiro LLP
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