NEW YORK, Nov. 25, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Desktop Metal, Inc. ("Desktop Metal" or the "Company") (NYSE: DM). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether Desktop Metal and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On November 8, 2021, Desktop Metal announced an independent investigation resulting from an internal whistleblower complaint concerning the Company's EnvisionTec subsidiary. On this news, Desktop Metal's stock price fell $0.39 per share, or 4.24%, to close at $8.81 per share on November 9, 2021. Then, on November 15, 2021, the Chief Executive Officer of EnvisionTec resigned, and Desktop Metal disclosed compliance issues with shipments from EnvisionTec resulting in Food and Drug Administration regulatory activity.
On this news, Desktop Metal's stock price fell $1.19 per share, or 14.84%, to close at $6.83 per share on November 16, 2021.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com
Robert S. Willoughby
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP