NEW YORK, Feb. 21, 2019 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Proto Labs, Inc. (“Proto Labs” or the “Company”) (NYSE: PRLB). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether Proto Labs and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On February 7, 2019, Proto Labs announced its financial and operating results for the fourth quarter of 2018. The Company reported earnings of adjusted $0.74 per share versus estimates of $0.79 per share and revenue of $112.8 million versus estimates of $115 million, falling short of market expectations. Proto Lab’s Chief Executive Officer stated, in part: “We experienced a strong start to the quarter in terms of revenue, followed by a weak December. . . . In addition, our recent acquisition of Rapid Manufacturing is performing below our expectations. These factors, combined with the relocation of our CNC facility in the United States impacted our productivity during the quarter, negatively affecting our operating earnings.” Following this news, Proto Labs’ stock price fell sharply during intraday trading on February 7, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com