Kessler Topaz Meltzer & Check, LLP: Investor Class Action Filed Against 3D Systems Corp. – DDD for Securities Fraud Violations

3D Systems investors may receive additional information about the case by clicking the link "Submit Your Information" above.

3D Systems provides comprehensive 3D printing and digital manufacturing solutions, including 3D printers for plastics and metals, materials, software, on-demand manufacturing services, and digital design tools.

The Class Period commences on May 6, 2020, when after the market closed, 3D Systems filed a Form 10-Q quarterly report for the quarterly period ended March 31, 2020.  As part that filing, certain of the defendants included certifications attesting to, among other things, the accuracy of financial reporting, the disclosure of any material changes to the company’s internal control over financial reporting and the disclosure of all fraud.  Thereafter, 3D Systems filed quarterly reports on August 5, 2020 and November 5, 2020, attesting to the accuracy of the same information. 

On March 1, 2021, 3D Systems issued a press release announcing a delay of filing its 10-K annual report for the fiscal year ended December 31, 2020. In pertinent part, the press release stated that 3D Systems will delay filing its annual report on a Form 10-K and that the delay “is primarily related to the presentation of cash flows associated with the divestiture process for its Cimatron and GibbsCam software businesses.”  Further, 3D Systems stated, “the company will report material weaknesses in internal controls in its fiscal 2020 Annual Report on Form 10-K.”

Following this news, 3D Systems’ stock price fell $7.62 per share, or more than 19.6%, from closing at $38.79 per share on March 1, 2021 to close at $31.17 per share on March 2, 2021.

The complaint alleges that, throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (1) 3D Systems lacked proper internal controls over financial reporting; and (2) as a result, 3D Systems’ public statements were materially false and/or misleading at all relevant times.

If you are a member of the class described above, you may no later than June 8, 2021 move the Court to serve as lead plaintiff of the class, if you so choose.

A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Filling out the online form above or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case.  Any member of the purported class may move the court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP:  James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. (484) 270-1435; toll-free at (844) 887-9500; or via e-mail at [email protected].  If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.