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PHILADELPHIA, July 07, 2019 (GLOBE NEWSWIRE) -- Kehoe Law Firm, P.C. is conducting an investigation on behalf of Diebold Nixdorf, Incorporated investors concerning possible violations of the federal securities laws by Diebold Nixdorf Incorporated (“Diebold Nixdorf” or the “Company”).
On July 2, 2019, a class action lawsuit was filed on behalf of purchasers of the securities of Diebold Nixdorf from May 4, 2017 through July 4, 2017, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Diebold Nixdorf investors under the federal securities laws.
If you are a Diebold Nixdorf (NYSE: DBD) shareholder who suffered damages, please click Join a Securities Class Action or contact either John Kehoe, Esq., (215) 792-6676, Ext. 801, firstname.lastname@example.org, or Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, email@example.com, firstname.lastname@example.org, to learn more about the securities investigation.
Shareholders of Diebold Nixdorf have until September 3, 2019 to move the Court to serve as lead plaintiff.
According to the class action lawsuit, throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (1) Diebold Nixdorf 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 Diebold Nixdorf’s services business and operations; and (3) as a result, the statements of the defendants about Diebold Nixdorf’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On July 5, 2017, Diebold Nixdorf disclosed that the Company 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. Diebold Nixdorf attributed 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 share price of Diebold Nixdorf dropped $6.28, or almost 23%, to close at $21.20 per share on July 5, 2017, thereby injuring investors.
Kehoe Law Firm, P.C. with offices in New York and Philadelphia, is a multidisciplinary, plaintiff–side law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Combined, the partners at Kehoe Law Firm have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.