GlobeNewswire Inc | Jan 31, 2022 01:31PM EST

January 31, 2022

SAN FRANCISCO, Jan. 31, 2022 (GLOBE NEWSWIRE) -- Hagens Berman urges Desktop Metal, Inc. (NYSE: DM) investors with significant losses to submit your losses now.

Class Period: Mar. 15, 2021 Nov. 15, 2021Lead Plaintiff Deadline: Feb. 22, 2022Visit:www.hbsslaw.com/investor-fraud/DMContact An Attorney Now:DM@hbsslaw.com 844-916-0895

Desktop Metal, Inc. (DM) Securities Class Action:

The complaint alleges that Defendants made false and misleading statements concerning Desktop Metals widely touted $300 million acquisition of EnvisionTEC, which closed on Feb. 16, 2021.

Specifically, Defendants misrepresented and concealed: (1) that there were deficiencies in EnvisionTECs manufacturing and product compliance practices and procedures; (2) that the foregoing deficiencies presented a material risk to the commercialization of EnvisionTECs products; and (3) that, as a result of the foregoing, Defendants positive statements about the Companys business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

The truth began to emerge on Nov. 8, 2021, when 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 EnvisionTECs founder and CEO (Ali El Siblani) had resigned.

Then, on Nov. 15, 2021, the Company announced that, as of Nov. 12, 2021, based on compliance issues with certain shipments of EnvisionTECs Flexera dental resins and its PCA4000 curing box, the Company would notify the FDA.

These events sent the price of Desktop Metal shares sharply lower.

Were focused on investors losses and proving Desktop Metal lied about the benefits of the EnvisionTEC acquisition, said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in Desktop Metal and have significant losses, or have knowledge that may assist the firms investigation, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding Desktop Metal should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email DM@hbsslaw.com.

About Hagens BermanHagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact: Reed Kathrein, 844-916-0895