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NEW YORK, June 16, 2025 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the District of Delaware on behalf of all persons or entities who purchased or otherwise acquired 3D Systems Corporation (“3D Systems” or the “Company”) (NYSE:DDD) securities between August 13, 2024 and May 12, 2025, inclusive (the “Class Period”). The lawsuit seeks to recover damages for the Company’s investors under the federal securities laws. The Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) 3D Systems had understated the impact of weakened customer spending on the Company’s business, while overstating its resilience in challenging industry conditions; (ii) in addition, the updated milestone criteria in the United Partnership would negatively impact the Company’s Regenerative Medicine Program revenue; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times. According to the Complaint, on March 26, 2025, 3D Systems issued a press release announcing its financial results for the fourth quarter (“Q4”) and full-year 2024 (the “Q4 2024 Press Release”). The Complaint alleges that among other items, 3D Systems reported Q4 non-GAAP earnings-per-share (“EPS”) of -$0.19, missing consensus estimates by $0.08 per share, and sales revenue of $111 million, representing a -3.4% year-over-year decline and missing consensus estimates by $4.17 million.
The Complaint further alleges that, for full-year 2024, the Company reported sales of $440.1 million, a decrease of 10% compared to the prior year, driven by “lower hardware systems sales due to macroeconomic factors that are negatively impacting demand.” The Complaint continues to allege that finally, 3D systems reported a “$9 million revenue reduction in Q4 driven by a change in accounting estimates for [the Company’s] Regenerative Medicine program.” The Complaint alleges that the Company disclosed that “[t]his change in estimate [was] related to the now anticipated use of preclinical human decedent testing[,] [. . .] which led to refinement of the milestone technical criteria.” On this news, 3D Systems’ stock price fell $0.57 per share, or 20.96%, to close at $2.15 per share on March 27, 2025. Investors who purchased or otherwise acquired shares of 3D Systems should contact the Firm prior to the August 12, 2025 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].
Please visit our website at http://www.gme-law.com for more information about the firm.
Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against 3D Systems Corporation (DDD)
June 17, 2025 01:00 AM BST | By EODHD
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