The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Diebold Nixdorf, Incorporated (NYSE: DBD) who purchased shares between February 14, 2017 and August 1, 2018. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Diebold Nixdorf lawsuit alleges that (1) as a result of the Wincor acquisition and related integration, the Company was less focused on its core business; (2) the Company expected certain customers would not renew their service contracts (i.e. contract runoff); (3) the Company was not adequately prepared to staff service technicians; (4) as a result of the expected contract runoff, the Company would suffer a shortage of adequately trained service technicians; (5) as a result, the Company would suffer margin pressure in its services segment; (6) as a result of the foregoing, the Company would lose market share; and (7) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Shareholders have until September 3, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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