INVESTOR ALERT: Investigation of Dynamic Materials Corporation Announced by Glancy Binkow & Goldberg LLP
March 06 2015 - 1:20PM
Business Wire
Glancy Binkow & Goldberg LLP announces that it is
investigating potential claims on behalf of investors of Dynamic
Materials Corporation (“Dynamic Materials Corp.” or the “Company”)
(NASDAQ:BOOM) concerning possible violations of federal securities
laws. The investigation is focused on certain statements issued by
the Company concerning its operations and financial
performance.
Please contact Lesley Portnoy at 888-773-9224 or 310-201-9150,
or at shareholders@glancylaw.com to discuss this matter. If you
inquire by email please include your mailing address, telephone
number and number of shares purchased.
Dynamic Materials Corp. manufactures explosion-welded clad metal
plates and oil and gas well perforation products and provides
welding services worldwide. The investigation is related to the
Company’s March 5, 2015, announcement that the Company plans to
restate its consolidated financial statements for the years ended
December 31, 2013 and 2012, the four quarters of 2013, and the
first, second and third quarters of 2014, and that the relevant
financial statements and related disclosures for these periods
should no longer be relied upon.
According to a Company press release, Dynamic Materials Corp.
“incorrectly accounted for income tax expense and related deferred
tax assets and liabilities at its business entities in Germany,”
and an investigation by management determined that a restatement of
the related consolidated financial statements and a reevaluation of
internal controls was necessary. Following this news, Dynamic
Materials Corp. shares fell as much as $1.17 per share, or more
than 7.5%, during intraday trading on March 6, 2015.
If you purchased Dynamic Materials Corp. securities, if you have
information or 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 Lesley
Portnoy, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century
Park East, Suite 2100, Los Angeles, California 90067 at
310-201-9150, Toll-Free at 888-773-9224, by e-mail to
shareholders@glancylaw.com, or visit our website at
http://www.glancylaw.com. If you inquire by email please include
your mailing address, telephone number and number of shares
purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
Glancy Binkow & Goldberg LLP, Los AngelesLesley Portnoy,
310-201-9150 or 888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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