3D Systems Corporation

  • Active

Investigation
04/09/2021

Initial Lawsuit
04/09/2021

Lawsuit Progression
07/13/2021

Investigation

  • Continous Holding
    May 6, 2020 to March 1, 2021
  • Proposed Claim
    Securities Violation

Investigation regarding 3D Systems’ statements about its internal controls over financial reporting.

Main Event

Or?

03/02/2021

SEC Filing

3D Systems announces it will delay filing of its annual report because of “the presentation of cash flows associated with the divestiture process for its Cimatron and GibbsCam software businesses.” The company adds that “in the course of preparing its financial results for the fourth quarter and full year 2020, the company discovered certain internal control deficiencies” and that “as a result, the company will report material weaknesses in internal controls in its fiscal 2020 Annual Report on Form 10-K.”

The stock impact compares the closing price immediately preceding the date of the event and the following closing price. The price difference also reflects the overall mix of information.

Stock Impact

Close Previous close Price variation Percentage variation
$31.17 $38.79 $-7.62 -19.64%
See more on Factual Timeline

Initial Lawsuit

This is a federal securities class action on behalf of all persons and entities who purchased the publicly traded securities of 3D Systems from May 6, 2020 to March 1, 2021.

  • Filing Date
    04/09/2021
  • Class Period
    05/06/2020 to 03/01/2021
  • Transgression
    Securities Violation
  • Filing Firms
    The Rosen Law Firm, P.A.
  • Case Title
    Kehoe v. 3D Systems Corp.
  • Docket Number
    1:21-cv-01920
  • Court
    New York Eastern District Court
  • Free File
    Complaint

Allegations

According to the complaint, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants allegedly failed to disclose to investors that:

(1) 3D Systems lacked proper internal controls over financial reporting;
(2) as a result, 3D Systems’ public statements were materially false and/or misleading at all relevant times.

Defendants

  • Company
    3D Systems
  • Chief Executive Officer
    Vyomesh I. Joshi
  • Chief Financial Officer
    Todd A. Booth
  • Chief Executive Officer
    Jeffrey A. Graves
  • Chief Financial Officer
    Wayne Pensky
  • Chief Financial Officer
    Jagtar Narula

Lawsuit progression

  • Docket Number
    1:21-cv-01920
  • Court
    New York Eastern District Court

Lead Counsel

07/13/2021

The court issued an order appointing the lead plaintiff and lead counsel.

  • Lead Counsel
    The Rosen Law Firm, P.A.
  • Lead Plaintiff
    Individual
  • Free File
    Order for lead

Amended Complaint

09/13/2021

This is a federal securities class action on behalf of all persons and entities that purchased the publicly-traded common stock of 3DSC from May 6, 2020, to March 5, 2021.

  • Updated Class Period
    05/06/2020 to 03/05/2021
  • Free File
    Amended Complaint

    • Operative complaint

Motion to Dismiss

05/16/2022

A motion to dismiss was filed with the court.

[stockdio-historical-chart symbol=”DDD” stockExchange=”NYSENasdaq” width=”500″ height=”330″ motif=”blinds” palette=”humanity” includeVolume=false]

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