SAN DIEGO, Jan. 13, 2025 (GLOBE NEWSWIRE) — Robbins LLP reminds investors that a class action was filed on behalf of purchasers of DMC Global Inc. (NASDAQ: BOOM) securities between May 3, 2024 and November 4, 2024. DMC Global is a diversified industrial company.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
The Allegations: Robbins LLP is Investigating Allegations that DMC Global Inc. (BOOM) Misled Investors Regarding its Operations and Financial Results
According to the complaint, during the class period, defendants failed to disclose that: (i) the goodwill associated with Acadia Products was overstated due to the adverse events and circumstances affecting that reporting segment; (ii) DMC Global’s materially inadequate internal systems and processes were adversely affecting its operations; (iii) the Company’s inadequate systems and processes prevented it from ensuring reasonably accurate guidance and that its public disclosures were timely, accurate, and complete; and (iv) as a result, defendants misrepresented DMC Global’s operations and financial results.
Plaintiff alleges that on October 21, 2024, the Company issued a press release lowering its third quarter financial guidance. On this news, DMC Global common stock dropped more than 18%, to close at $10.57 per share on October 22, 2024. Then, on November 4, 2024, the Company released disappointing fourth quarter financial results. On this news, DMC Global common stock dropped another 6%, from $9.84 per share on November 4, 2024, to a close of $9.25 per share the next day.
What Now: You may be eligible to participate in the class action against DMC Global Inc. Shareholders who want to serve as lead plaintiff for the class should contact Robbins LLP. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders.
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