3D Systems Corporation investors with losses are encouraged to contact the firm before June 8, 2021; click here to submit trade information
Amdocs Limited investors with losses are encouraged to contact the firm before June 8, 2021; click here to submit trade information
Champignon Brands investors with losses are encouraged to contact the firm before June 9, 2021; click here to submit trade information
The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of 3D Systems Corporation (NYSE: DDD) investors that acquired shares between May 6, 2020 and March 1, 2021. Investors have until June 8, 2021 to seek an active role in this litigation.
A class action lawsuit has also been filed on behalf of Amdocs Limited (NASDAQ: DOX) investors that acquired shares between December 13, 2016 to March 30, 2021. Investors have until June 8, 2021 to seek an active role in this litigation.
A class action lawsuit has also been filed on behalf of Champignon Brands, Inc. (OTC: SHRMF) investors that acquired shares between December 13, 2016 to March 30, 2021. Investors have until June 9, 2021 to seek an active role in this litigation.
3D Systems Corporation
3D Systems issued a press release on March 1, 2021 advising investors that it would delay the filing of its annual report on a Form 10-K. 3D systems stated that "the delay in filing is primarily related to the presentation of cash flows associated with the divestiture process for its Cimatron and GibbsCam software businesses." 3D Systems also stated that they had identified "certain internal control deficiencies" and that, as a result, it would "report material weaknesses in internal controls in its fiscal 2020 Annual Report on Form 10-K." 3D Systems filed a NT-10-K with the SEC on March 2, 2021, which statec that their 10-K filing would be delayed. On this news, 3D Systems' stock price declined by $7.62 per share, or more than 19.6%, on this news, from closing at $38.79 per share on March 1, 2021 to close at $31.17 per share on March 2, 2021, damaging investors. The lawsuit alleges that throughout the Class Period defendants made misleading and/or false statements and/or failed to disclose that: (1) 3D Systems lacked the proper internal controls over financial reporting; and (2) 3D Systems' public statements were materially false and/or misleading at all relevant times, as a result.
It is alleged in this complaint that Amdocs issued misleading and/or false statements and/or failed to disclose information pertinent to investors. Amdocs is the subject of a report published on March 31, 2021 by Jehoshaphat Research. According to the report, Amdocs overstated its profitability. Jehoshaphat alleges that Amdoc replaced reputable auditors with "scandal-plagued or tiny shops." It is alleged that Amdoc "window-dressed" its balance sheet in order to hide its borrowing. The report quotes a former Amdoc executive as saying, "The US business was declining at a rate of [around] 7% annually...but then we would see the company [publish results that] say North America is stable."
Champignon Brands, Inc.
It is alleged in this complaint that Champignon made misleading and false statements to the market. Sufficient internal controls over financials were not maintained by Champignon. Champignon issued financial statements that were false and could not be relied upon, requiring restatement. Champignon engaged in acquisitions with undisclosed third parties, and as a result, the British Columbia Securities Commission would suspend Champignon from trading. Champignon's public statements were materially misleading and false throughout the class period, as a result. Investors suffered damages when the market learned the truth about Champignon.
Class action lawsuits have already been filed. If you wish to serve as lead plaintiff in cases against 3D Systems Corporation or Amdocs Limited, you must move the Court no later than June 8, 2021. If you wish to serve as lead plaintiff in the case against Champignon Brands you must move the Court no later than June 9, 2021.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm's founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar