|Company name||Diebold Nixdorf|
NEW YORK, August 26, 2019 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all investors that purchased Diebold Nixdorf, Inc. (NYSE: DBD) securities between February 14, 2017 and July 4, 2017 (the “Class Period”). Investors have until September 3, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint filed on July 2, 2019 alleges that Throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company was experiencing delays in systems rollouts as well as a longer customer decision-making process and order-to-revenue conversion cycle; (ii) the foregoing issues were negatively impacting the Company’s services business and operations; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times. On July 5, 2017, Diebold disclosed that the Company expected a wider net loss than indicated in its 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 the lowered expectations to a delay in systems rollouts as well as a longer customer decision-making process and order-to-revenue conversion cycle. 6. Following this news, Diebold’s stock price fell $6.40 per share, or nearly 23%, to close at $21.60 per share on July 5, 2017
If you purchased or otherwise acquired Diebold Nixdorf shares during the class period, have information, 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 Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.