NEW YORK, June 15, 2015 (GLOBE NEWSWIRE) -- In a release issued earlier today by Scott+Scott, please note that in the fifth paragraph, the date August 11 should be August 14. The corrected release follows:
Scott+Scott, Attorneys at Law, LLP filed a class action complaint in the United States District Court for the District of South Carolina on behalf of all purchasers of 3D Systems Corporation (NYSE:DDD) (“3D” or the “Company”) who purchased or otherwise acquired 3D’s securities between October 29, 2013 and October 22, 2014, inclusive (the “Class Period”).
3D Systems makes content-to-print solutions ‒ 3D printers, materials, and on-demand custom parts services. It also provides content creation and design productivity software platforms. Its products are most often used in commercial settings like the aerospace/defense, healthcare, and automotive industries, as well as consumer applications and hobbies.
The complaint alleges that Defendants drove up 3D’s stock price by issuing false and misleading statements concerning the Company’s (i) ability to increase the capacity of its metal printing business; (ii) demand for its consumer products; (iii) the value of multiple companies it was acquiring; and (iv) expected earnings. The truth was finally revealed on October 22, 2014, when the Company surprised the market by announcing disappointing preliminary Q3 results and guided lower full year revenue and earnings. In a press release, the Company blamed its disappointing results on capacity constraints for its direct metal printers. On this news, 3D shares plummeted over 15% on high volume.
You can view a copy of the complaint here: Complaint.
If you purchased 3D stock during this time period and wish to serve as a lead plaintiff in the action, you must move the Court no later than August 14, 2015. Any member of the class may move the Court to serve as lead plaintiff through counsel of its choice or may choose to do nothing and remain an absent class member. If you wish to discuss this action or have questions concerning this notice or your rights, please contact Scott+Scott (scottlaw@scott-scott.com, (800) 404-7770, (860) 537-5537) or visit the Scott+Scott website for more information: http://www.scott-scott.com.
There is no cost or fee to you.
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide.