NEW YORK, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against DMC Global Inc. (“DMC Global” or the “Company”) ( BOOM) on behalf of DMC Global stockholders. Our investigation concerns whether DMC Global has violated the federal securities laws and/or engaged in other unlawful business practices.
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On October 21, 2024, DMC Global disclosed that it was “revising its guidance” for the quarter ended September 30, 2024, stating that the Company’s adjusted EBITDA is now expected to be approximately $5 million, down from prior guidance for $15-18 million, and that the third quarter financial results “will include inventory and bad debt charges at DynaEnergetics totaling approximately $5 million, as well as lower fixed overhead absorption on reduced sales at both Arcadia and DynaEnergetics.” The Company also revealed that the financial results will include an approximate $142 million non-cash goodwill impairment charge “associated with DMC’s December 2021 acquisition of a controlling interest in Arcadia.” On this news, the price of DMC Global shares declined by $2.36 per share, or approximately 18.3%, from $12.93 per share on October 21, 2024, to close at $10.57 per share on October 22, 2024.
If you purchased or otherwise acquired DMC Global shares and suffered a loss, are a long-term stockholder, 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 Marion Passmore by email at [email protected], by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
[email protected]
www.bespc.com
