NEW YORK, April 08, 2019 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Amyris, Inc. (“Amyris” or the “Company”) (NASDAQ: AMRS ) of the June 3, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Amyris stock or options between March 15, 2018 and March 19, 2019 and would like to discuss your legal rights, click here : www.faruqilaw.com/AMRS. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.
CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26 th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
The lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all those who purchased Amyris securities between March 15, 2018 and March 19, 2019 (the “Class Period”). The case, Mulderrig et al v. Amyris, Inc. et al, No. 19-cv-01765 was filed on April 3, 2019, and has been assigned to Judge Yvonne Gonzalez Rogers.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose: (1) that the company lacked sufficient resources to accurately account for certain transactions; (2) that, as a result, there was a material weakness in the company's internal controls over financial reporting; (3) that, as a result, the company would be unable to timely file its annual report; and (4) that, 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.
On November 13, 2018 when the Company reported poor financial results, which it attributed to the “volatility of the Vitamin E market.”
On this news, the Company's stock price fell from $5.90 per share on November 13, 2019 to $4.14 per share on November 14, 2019--a $1.76 or 29.83% drop.
Then, on March 19, 2019, after the market closed, the Company filed a Notification of Late Filing on Form 12b-25 with the Securities and Exchange Commission (“SEC”).
On this news, the Company’s stock price fell from $3.88 per share on March 19, 2019 to $3.10 per share on March 20, 2019—a $0.78 or 20.10% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Amyris’ conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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