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ExOne Sued by Investor Over $575 Million Sale to Desktop Metal

Nov. 9, 2021, 5:20 PM

An ExOne Co. shareholder sued it in Delaware over claims that its planned $575 million sale to Desktop Metal Inc.—set for a vote Tuesday—was designed to let its founder cash out, even if the deal is a bad one for the 3D printing company and its public investors.

The lawsuit, filed late Monday, alleges “a credible basis to suspect” that the board looked the other way while “a core group of conflicted insiders,” led by chairman S. Kent Rockwell, exploited dramatic fluctuations in ExOne’s stock price to reach an underpriced deal that included unique perks for them.

“It appears that ...

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