Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigation of Desktop Metal, Inc. (DM) on Behalf of Investors - Yahoo Finance
LOS ANGELES, November 16, 2021--(BUSINESS WIRE)--Glancy Prongay & Murray LLP ("GPM"), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Desktop Metal, Inc. ("Desktop Metal" or the "Company") (NYSE: DM) investors concerning the Company’s possible violations of the federal securities laws.
If you suffered a loss on your Desktop Metal investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/desktop-metal-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.
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, Desktop Metal’s stock fell $0.39, or 4%, to close at $8.81 per share on November 9, 2021.
Then, on November 15, 2021, 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 dropped as much as 19.5% during intraday trading on November 16, 2021, thereby injuring investors.
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Whistleblower Notice: Persons with non-public information regarding Desktop Metal should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email [email protected].
source: https://finance.yahoo.com/news/glancy-prongay-murray-llp-leading-230000541.html
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