LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP announces that it is investigating potential claims on behalf of investors of Dynamic Materials Corporation (“Dynamic Materials Corp.” or the “Company”) (NASDAQ:BOOM) concerning possible violations of federal securities laws. The investigation is focused on certain statements issued by the Company concerning its operations and financial performance.
Please contact Lesley Portnoy at 888-773-9224 or 310-201-9150, or at firstname.lastname@example.org to discuss this matter. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
Dynamic Materials Corp. manufactures explosion-welded clad metal plates and oil and gas well perforation products and provides welding services worldwide. The investigation is related to the Company’s March 5, 2015, announcement that the Company plans to restate its consolidated financial statements for the years ended December 31, 2013 and 2012, the four quarters of 2013, and the first, second and third quarters of 2014, and that the relevant financial statements and related disclosures for these periods should no longer be relied upon.
According to a Company press release, Dynamic Materials Corp. “incorrectly accounted for income tax expense and related deferred tax assets and liabilities at its business entities in Germany,” and an investigation by management determined that a restatement of the related consolidated financial statements and a reevaluation of internal controls was necessary. Following this news, Dynamic Materials Corp. shares fell as much as $1.17 per share, or more than 7.5%, during intraday trading on March 6, 2015.
If you purchased Dynamic Materials Corp. securities, if you have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by e-mail to email@example.com, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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