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    Home » Faruqi & Faruqi Reminds DMC Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of February 4, 2025
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    Faruqi & Faruqi Reminds DMC Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of February 4, 2025

    userBy userDecember 22, 2024No Comments4 Mins Read
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    Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $75,000 In DMC To Contact Him Directly To Discuss Their Options

    If you suffered losses exceeding $75,000 in DMC between May 3, 2024 and November 4, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

    [You may also click here for additional information]

    New York, New York–(Newsfile Corp. – December 22, 2024) – 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 the February 4, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

    Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

    As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the goodwill associated with Acadia Products was overstated due to the adverse events and circumstances affecting that reporting segment; (2) DMC Global’s materially inadequate internal systems and processes were adversely affecting its operations; (3) the Company’s inadequate systems and processes prevented it from ensuring reasonably accurate guidance and that its public disclosures were 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 materially false, misleading, or lacked a reasonable basis when made.

    On October 21, 2024, DMC announced a revision to its financial guidance for the fiscal quarter concluding on September 30, 2024. The company now anticipates that its adjusted EBITDA will be approximately $5 million, significantly reduced from the previously forecasted range of $15 to $18 million. Additionally, DMC indicated that its third quarter financial results will incorporate charges related to inventory and bad debts amounting to approximately $5 million at DynaEnergetics, coupled with decreased fixed overhead absorption due to lower sales at both Arcadia and DynaEnergetics. Moreover, the company disclosed that its financial results will reflect an approximate $142 million non-cash goodwill impairment charge stemming from DMC’s acquisition of a controlling interest in Arcadia in December 2021.

    After this disclosure, the market value of DMC’s stock experienced a decline of $2.36 per share, or 18.3%, closing at $10.57 per share on October 22, 2024. This substantial decrease in stock price resulted in financial detriment to the investors.

    Further developments occurred on November 4, 2024, when DMC released its financial outcomes for the third quarter of the fiscal year ending September 30, 2024. Following this announcement, DMC’s stock value continued to decline, exhibiting a decrease of over 10% during mid-day trading on November 5, 2024.

    The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

    Faruqi & Faruqi, LLP also encourages anyone with information regarding DMC’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

    Follow us for updates on LinkedIn, on X, or on Facebook (NASDAQ:).

    Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

    To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234393





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