NEW YORK, July 05, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against of Diebold Nixdorf, Incorporated (“Diebold” or the “Company”) (NYSE: DBD) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Diebold securities from May 4, 2017 and July 4, 2017, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/dbd.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (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) as a result, the Company’s public statements were materially false and misleading at all relevant times.
On July 5, 2017, Diebold issued a press release titled “Diebold Nixdorf Adjusts 2017 Financial Outlook” (the “July 2017 Press Release”). The July 2017 Press Release 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. Diebold 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. 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 wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/dbd or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Diebold you have until September 3, 2019 to request that the Court appoint you as lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
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