RM LAW, P.C. announces that a class action lawsuit has been filed on behalf of all persons or entities that purchased Diebold Nixdorf, Incorporated (“Diebold Nixdorf” or the “Company”) (NYSE: DBD) securities between May 4, 2017 and July 4, 2017, inclusive (the “Class Period”).
Diebold Nixdorf shareholders may, no later than September 3, 2019, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of Diebold Nixdorf and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.
On July 5, 2017, the Company disclosed that it expected a wider net loss than prior guidance for fiscal 2017, from a range of $50 to $75 million to a range of $110 to $125 million net loss. The Company attributed to the lowered expectations to a “delay in systems rollouts” as well as “a longer customer decision-making process and order-to-revenue conversion cycle.”
On this news, the Company’s share price fell $6.40, or nearly 23%, to close at $21.60 per share on July 5, 2017, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) the Company was experiencing delays in systems rollouts as well as a longer customer decision-making process and order-to-revenue conversion cycle; (2) the foregoing issues were negatively impacting the Company’s services business and operations; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you are a member of the class, you may, no later than September 3, 2019, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain RM LAW, P.C. or other counsel of your choice, to serve as your counsel in this action.