LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”), a national investors rights law firm, announces that a class action lawsuit has been filed on behalf of investors that acquired 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 investors have until September 3, 2019 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to email@example.com, or visit our website at www.glancylaw.com.
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.
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If you purchased shares of Diebold Nixdorf during the Class Period you may move the Court no later than September 3, 2019 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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