STEVENSON, Md., Aug. 22, 2013 (GLOBE NEWSWIRE) -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of Texas on behalf of purchasers of KiOR, Inc. ("KiOR" or the "Company") (Nasdaq: KIOR ) securities during the period between August 14, 2012 and August 7, 2013, inclusive (the "Class Period").
If you have suffered a net loss from investment in KiOR, Inc. securities purchased on or after August 14, 2012, and held through the revelation of negative information on August 8, 2013, as described below, at no cost to you, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com , by email at hoffman@browerpiven.com , by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than October 21, 2013 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company units during the Class Period.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants' failure to disclose during the Class Period that the Company was not on track to produce commercially meaningful quantities of biofuel at the Columbus facility in the amounts that management had projected or during the timeframes promised. According to the complaint, following the Company's August 8, 2013 disclosure that it had only shipped 75,000 gallons of biofuel during the second quarter of 2013, far less than the 300,000 to 500,000 gallons that the Company's President had promised investors just three months earlier, the value of KiOR shares declined significantly.
If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
Charles J. Piven Brower Piven, A Professional Corporation Stevenson, Maryland 410/415-6616
