NEW YORK - (NewMediaWire) - December 9, 2021 - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Desktop Metal, Inc. (“Desktop Metal” or the “Company”) (NYSE: DM).
If you suffered losses exceeding $50,000 investing in Desktop Metal stock or options and would like to discuss your legal rights,Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: http://www.faruqilaw.com/DM.
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
On November 8, 2021, after the market closed, Desktop Metal disclosed that it was conducting an internal investigation into matters raised by a whistleblower complaint, including "manufacturing and product compliance practices and procedures with respect to a subset of its photopolymer equipment and materials at its EnvisionTec US LLC facility." The Company also stated that the Chief Executive Officer of EnvisionTec US LLC had resigned.
On this news, Desktop Metal’s stock fell $0.39, or 4%, to close at $8.81 per share on November 9, 2021.
Then, on November 15, 2021, the Company stated that it would notify the U.S. Food and Drug Administration ("FDA") of "compliance issues with certain shipments of EnvisionTEC’s Flexcera dental resins and its PCA4000 curing box."
On this news, Desktop Metal’s stock fell $1.19, or 14% to close at $6.83 per share on November 16, 2021, thereby injuring investors.
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