NEW YORK, July 29, 2022 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that it is investigating the officers and directors of Desktop Metal, Inc. (“Desktop” or the “Company”) (NYSE: DM) for potential breaches of fiduciary duties, waste of corporate assets and unjust enrichment between January 15, 2021 and November 15, 2021.
A securities class action complaint is pending in the United States District Court for the District of Massachusetts (the “Securities Class Action”). The complaint in the Securities Class Action alleges that Defendants failed to disclose to investors: (i) that there were deficiencies in EnvisionTEC’s manufacturing and product compliance practices and procedures; (ii) that the foregoing deficiencies presented a material risk to the commercialization of EnvisionTEC’s products; (iii) that Desktop Metal conducted insufficient due diligence into EnvisionTEC’s manufacturing and product compliance practices and procedures; and (iv) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you wish to discuss your rights or interests, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
