NEW YORK, Feb. 13, 2015 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been commenced in the United States District Court for the District of Minnesota on behalf of purchasers of Stratasys Ltd. ("Stratasys" or the "Company") (Nasdaq:SSYS) common stock between May 9, 2014, and February 2, 2015, inclusive (the "Class Period"). Investors with losses on shares purchased during the class period, and/or losses on shares purchased directly on the July 17, 2014, and August 7, 2014 Secondary Offerings, are encouraged to contact us immediately at (800) 575-0735 or email classmember@whafh.com.
The complaint alleges that defendants issued false and misleading statements and/or failed to disclose adverse facts about the Company's business and future prospects. In particular, it is alleged that the Company repeatedly issued positive statements regarding the Company's recently acquired subsidiary MakerBot and its products. As a result of these statements, Stratasys stock traded at artificially inflated prices, allowing the Company to complete two stock offerings netting selling shareholders more than $230 million.
On February 2, 2015, Stratasys announced that its fourth quarter fiscal 2014 revenue would miss analysts' expectations, largely due to problems with MakerBot. The Company further revealed that it was taking a $100 million to $110 million impairment charge to the goodwill value of the MakerBot subsidiary.
Following this surprising disclosure announcement, the value of Stratasys shares fell $22.72 per share or 28% to close at $57.36 per share on February 3, 2015.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has over 70 attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com. All e-mail correspondence should make reference to the "Stratasys investigation."
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