NEW YORK, Aug. 4, 2015 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a securities class action has been filed in the United States District Court for the Central District of California on behalf of those who purchased shares of 3D Systems Corporation. ("3D Systems" or the "Company") (NYSE: DDD), during the period between October 29, 2013 and October 22, 2014 inclusive. (the "Class Period").
The Complaint alleges that throughout the Class Period, 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.
October 29, 2013, 3D's CEO and President, Defendant Reichental, proclaimed that the Company had "decided to triple our manufacturing capacity over the next 12 months, as well as accelerate the development of additional direct metal 3D printer models." Defendant Reichental also touted the strategic value of the Company's recent acquisitions. In addition, on February 28, 2014, Reichental also represented that "our plan is [to] quadruple [direct metal printing] sales over the next 12 to 18 months."
On July 31, 2014, 3D issued its second quarter results whereby the Company missed analysts' expectations and reported revenue of $151.5 million on delays in the rollout of new products and disappointing guidance. On this news, the Company's share price fell nearly 11%.
On October 22, 2014, 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.
No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact Peretz Bronstein, Esq. or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email info@bgandg.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in 3D Systems you have until August 14, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
info@bgandg.com
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