GlobeNewswire Inc | Jan 13, 2022 10:34AM EST

January 13, 2022

NEW YORK, Jan. 13, 2022 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Desktop Metal, Inc. (Desktop Metal or the Company) (NYSE: DM). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Desktop Metal and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

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On November 8, 2021, after the market closed, Desktop Metal disclosed that it was conducting an internal investigation into certain matters, 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, the Companys stock fell $0.39 per share, or 4%, to close at $8.81 per share on November 9, 2021.

Then, on November 15, 2021, after the market closed, the Company stated that it would notify the U.S. Food and Drug Administration of compliance issues with certain shipments of EnvisionTECs Flexcera dental resins and its PCA4000 curing box.

On this news, the Companys stock fell $1.19 per share, or 15%, to close at $6.83 per share on November 16, 2021.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com

CONTACT:Robert S. WilloughbyPomerantz LLPrswilloughby@pomlaw.com888-476-6529 ext. 7980