Behind the Legal War: Shareholder Pressure and a Corporate Takeover
The lawsuit, originally filed in December, accuses Nano Dimension of deliberately obstructing the deal under pressure from its second-largest shareholder, Murchinson Ltd..
The court documents paint a damning timeline of events:
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Nano initially pursued Desktop Metal aggressively, even interfering with a potential acquisition by rival Stratasys Ltd., convincing shareholders to vote down the deal.
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Murchinson opposed the acquisition, pushing for a bankruptcy-based buyout instead.
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By Dec. 6, Murchinson secured four of Nano’s 10 board seats, and weeks later forced the remaining six directors to resign.
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After the takeover, Nano allegedly halted efforts to obtain CFIUS approval, with the court stating: “The timeline is damning.”
McCormick’s ruling notes that Murchinson’s opposition to the deal was clear, public, and relentless.
Desktop Metal’s Financial Struggles Add to the Pressure
Adding another layer of tension, the court acknowledged that Desktop Metal is in dire financial straits.
“As Desktop told CFIUS, operating the company became ‘increasingly challenging’ as its cash balance fell below $10 million by December 2024,” McCormick wrote, emphasizing the escalating risk of bankruptcy.
While Nano failed to prove Desktop Metal breached its “no bankruptcy” commitment, the judge remarked that “the evidence is quite close.”
