Dallas, Texas 07/10/2015 (Financialstrend) – 3D Systems Corporation (NYSE:DDD) has once again reiterated its ambition of taking 3D printing to another level having inked a distribution agreement with Douglas Steward. The agreement provides the company with a prime opportunity to expand its reach to various industries.
Douglas Steward renowned in the education market is to distribute 3D Systems Corporation (NYSE:DDD) range of products across Europe and the UK. The distribution partner is to assist educators in schools and university by making available a wide array of educational solutions complimented with advanced programs for students.
The deal is part of 3D Systems Corporation (NYSE:DDD) plan of making 3D designs readily available for educational purposes as the company moves to grow its market place. The company has been providing a vast number of educational products as it looks to take advantage of the growing interest and demand for 3D solutions. Offering exciting educational opportunities for teachers and students is 3D Systems main ambition as it moves to grow its revenue streams.
Class Action Lawsuit
Separately law firm Pomerantz LLP has launched a class action lawsuit against the company and certain officers. The Class Action lawsuit is on behalf of shareholders who purchased the stock between October 29, 2013, and October 22, 2014.
The complainant alleges that 3D Systems Corporation (NYSE:DDD) issued misleading and false statements during the class period that drove the stock up based on the company’s long-term prospects. The company is accused of providing misleading information with regards to the capacity of its metal printing business and the demand for its consumer products.
The company might have provided investors with the wrong information on the value of the multiple companies it was planning to acquire as well as it expected earnings according to the lawsuit. The company’s CEO on October 29, 2013, had claimed that the company was on course to triple its manufacturing capacity. Such a move would have resulted in the roll out of additional direct metal 3D printers.