Securities Class Action Filed Against Stratasys Ltd.
Violations of federal securities laws as a result of a series of materially false statements. The Complaint alleges that Defendants issued false and misleading statements and/or failed to disclose adverse facts about the Company’s business and future prospects. In particular, it is alleged that the Company repeatedly issued positive statements regarding its recently acquired subsidiary, MakerBot, and its products and that, as a result of these statements, Stratsys stock traded at artificially inflated prices, allowing the Company to complete two stock offerings netting selling shareholders more than $230 million. According to the Complaint, Stratasys announced on February 2, 2014 that its fourth quarter fiscal 2014 revenue would miss analysts’ expectations, largely due to problems with MakerBot. The Company further revealed that it was taking a $100 million to $110 million impairment charge to the goodwill value of the MakerBot subsidiary. Filed in D. Minn.
Lead Plaintiff Deadline: The deadline to file for lead plaintiff in this action is 4/6/2015.
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