SHAREHOLDER ALERT: Diebold Nixdorf, Incorporated (DBD) Accused of Misleading Shareholders; The Law Offices of Timothy L. Miles Encourages Shareholder to Contact the Firm
HENDERSONVILLE, TN / ACCESSWIRE / October 11, 2019 / The Law Offices of Timothy L. Miles, who has been leading the fight to protect shareholder rights for over 18 years, anounces that purchasers of Diebold Nixdorf, Incorporated (NYSE:DBD) have filed class action complaints for alleged violations of the Securities Exchange Act of 1934 between February 14, 2017 and July 4, 2017. Diebold Nixdorf offers connected commerce solutions to financial institutions and retailers in a variety of global regions. In 2016, Diebold Nixdorf changed its name from Diebold to Diebold Nixdorf following its acquisition of Wincor Nixdorf AG.
Diebold Nixdorf Accused of Misleading Shareholders
According to the complaints, Diebold Nixdorf touted its large, multi-year contract renewals with its two largest outsourcing customers, claiming it "[was] a testament to [its] strong competitive position and a confirmation of [its] services-led, software-enabled strategy." However, these statements were materially false and misleading as they failed to mention that Diebold Nixdorf expected certain other customers would not renew their service contracts, therefore causing a shortage of adequately trained service technicians, which would negatively impact its service business and operations. The reality of Diebold Nixdorf's situation was finally disclosed in July 2017, when Diebold Nixdorf lowered its guidance for fiscal 2017 due to longer customer decision-making and order-to-revenue conversion cycles as well as systems rollout delays. On this news, Diebold Nixdorf's stock price fell $6.28, or nearly 23%, to close at $21.20 per share. The stock currently trades at just $9.14.
The Law Offices of Timothy L. Miles Encourage Diebold Nixdorf Shareholders to Contact the Firm
If you purchased Diebold Nixdorf securities, 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 Timothy L. Miles, Esquire, at 615-587-7384, Toll-Free at 855-846-6529, or by email to [email protected] If you inquire by email please include your mailing address, telephone number, and the number and dates of shares purchased.
About Timothy L. Miles
Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recentely selected as a 2019 Elite Lawyer of The South by Martindale-Hubbell® and ALM and maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019). Awards: 2019 Elite Lawyer of The South by Martindale-Hubbell® and ALM (2019); Member of the Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association (2017-2019); AV® Preeminent™ Rating by Martindale-Hubble® (2014-2019); PRR AV Preeminent Rating on Lawyers.com (2017 & 2019); The Top-Rated Lawyer in Litigation™ for Ethical Standards and Legal Ability (Martindale-Hubble® 2015); Distinguished Lawyer, Recognizing Excellence in Securities Law, Lawyers of Distinction (2019); Superb Rated Attorney (Avvo); Avvo Top Rated Lawyer for 2017 & 2018 (Avvo).
SOURCE: The Law Offices of Timothy L. Miles
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