Amyris investors may receive additional information about the case by clicking the link "Submit Your Information" above.
According to the complaint, Amyris is an industrial biotechnology company that manufactures and sells natural, sustainably-sourced products in health and wellness, clean beauty, and flavor and fragrance markets.
The Class Period commences on March 15, 2018, when Amyris announced its financial results for the year ended December 31, 2017 in a press release, reporting $143.4 million revenue and $98.4 million net loss.
The complaint alleges that, on November 13, 2018, Amyris reported poor financial results, which it attributed to the “volatility of the Vitamin E market.” Following this news, Amyris’ share price fell $1.76, or nearly 30%, to close at $4.14 per share on November 14, 2018.
Then, on March 19, 2019, Amyris disclosed that it would be unable to timely file its annual report due to “significant time and resources that were devoted to the accounting for and disclosure of the significant transactions with Koninklijke DSM N.V. that closed in November 2018.” Amyris also disclosed that it “is in the process of completing its evaluation of internal control over financial reporting and may have further deficiencies to report.” Following this news, Amyris’ share price fell $0.78, or nearly 20%, to close at $3.10 per share on March 20, 2019.
The complaint alleges that throughout the Class Period, the defendants failed to disclose to investors that: (1) Amyris lacked sufficient resources to accurately account for certain transactions; (2) there was a material weakness in Amyris’ internal controls over financial reporting; (3) Amyris would be unable to timely file its annual report; and (4) as a result of the foregoing, the defendants’ positive statements about Amyris’ business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you are a member of the class described above, you may no later than June 3, 2019 move the Court to serve as lead plaintiff of the class, if you so choose.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Submitting the form or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of the class member’s choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at firstname.lastname@example.org. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
1-888-299-7706 (toll free) or 1-610-667-7706
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