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Shareholder rights law firm Robbins LLP reminds investors that 3D Systems Corp. (NYSE: DDD) and its officers and directors have been sued for alleged violations of the Securities Exchange Act of 1934 between May 6, 2020 and March 1, 2021. 3D Systems provides comprehensive 3D printing and digital manufacturing services and digital design tools.
If you suffered a loss due to 3D Systems Corp.'s misconduct, click here.
3D Systems Corp. (DDD) Lacked Proper Internal Controls Over Financial Reporting
According to the complaint, throughout the class period, 3D Systems attested to the accuracy of its financial reporting and disclosure controls and procedures.
On March 1, 2021, 3D Systems issued a press release announcing a delay in filing their 10-K annual report for the fiscal year ended December 31, 2020. Specifically, "the delay in filing is primarily related to the presentation of cash flows associated with the divestiture process for its Cimatron and GibbsCam software business." Further, "the company discovered certain internal control deficiencies. As a result, the company will 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 for the reasons stated in their March 1 release. On this news, 3D Systems stock price fell $7.62 per share, or almost 20%, to close at $31.17 per share on March 2, 2021.
If you purchased shares of 3D Systems Corp. (DDD) between May 6, 2020 and March 1, 2021, you have until June 8, 2021, to ask the court to appoint you lead plaintiff for the class.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
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