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Faruqi & Faruqi, LLP Securities Litigation Partners James (Josh) Wilson Encourages Investors Experiencing Losses at DMC to Contact Him Directly to Discuss Their Options.
If you bought or received securities from DMC between 3 May 2024 and 4 November 2024 and you would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson live to 877-247-4292 or 212-983-9330 (Ext. 1310).
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New York, New York–(Newsfile Corp. – January 25, 2025) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against DMC Global (NASDAQ 🙂 Inc. (“DMC” or the “Company”) (NASDAQ: BOOM) and reminds investors of February 4, 2025 deadline seeking the role of lead plaintiff in a federal class action against the Company.
Faruqi & Faruqi is a leading national security law firm with offices in New York, Pennsylvania, California and Georgia. The firm has raised hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As described below, the complaint alleges that the Company and its directors violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) a related charity and Acadia Products was overstated due to adverse events and conditions affecting that segment of the report; (2) DMC Global’s inadequate systems and processes adversely affected its operations; (3) The Company’s inadequate systems and processes prevented it from ensuring reasonably accurate guidance and that its public disclosures are timely, accurate, and complete; (4) as a result, Defendants misrepresented DMC Global’s operations and financial results; and/or (5) as a result, the Company’s public statements were false, misleading, or unreasonable when made.
On October 21, 2024, DMC announced an update to its financial guidance for the fiscal quarter ending September 30, 2024. The company expects its adjusted EBITDA to be approximately $5 million, which significantly reduced from $ 15 to $ 18. million. In addition, DMC indicated that its third quarter financial results will include charges related to assets and bad debts of approximately $5 million at DynaEnergetics, as well as a significant decrease in revenue due to less sales to Arcadia and DynaEnergetics. In addition, the company revealed that its financial results will reflect a charge of approximately 142 million euros from DMC that acquired a controlling interest in Arcadia in December 2021.
Following this announcement, the market value of DMC’s stock decreased by $2.36 per share, or 18.3%, to close at $10.57 per share on October 22, 2024. This significant decrease in price was result in financial loss to investors.
Further developments occurred on November 4, 2024, when DMC released its financial results for the third quarter of the fiscal year ending September 30, 2024. Following this announcement, the stock value DMC’s stock continued to decline, indicating a decline of more than 10% by mid-2024. intraday trading on November 5 2024.
The lead plaintiff appointed by the court is the investor with the greatest financial interest in the relief sought by a reasonable and common class of class members conducting and overseeing the case on behalf of the putative class. Any member of the arbitration panel may have the Court act as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent panel member. Your ability to participate in any recovery is not affected by the decision to serve as the lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information about DMC’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Advertising Attorney. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Preliminary results do not guarantee or predict the same result with respect to any future issue. We welcome the opportunity to discuss your matter. All communications will be held confidentially.
To view the source version of this release, please visit https://www.newsfilecorp.com/release/238342
