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May 17, 2019 7:22 AM ET

Glancy Prongay & Murray Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Amyris, Inc.


Glancy Prongay & Murray Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Amyris, Inc.

Legal Newswire

iCrowd Newswire - May 17, 2019

LOS ANGELES, — Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming June 3, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of Amyris, Inc. (“Amyris” or the “Company”) (NASDAQ: AMRS) investors who purchased securities between March 15, 2018, and March 19, 2019, inclusive (the “Class Period”).

If you are a shareholder who suffered a loss, click here to participate.

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to [email protected], or visit our website at www.glancylaw.com.

On March 19, 2019, Amyris announced it was unable to file its annual report for fiscal year ended December 31, 2018 on time due to “the 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.” The Company also disclosed that it was “in the process of completing its evaluation of internal control over financial reporting.”

On this news, Amyris’ share price fell $0.78, or nearly 20% to close at $3.10 per share on March 20, 2019, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed 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.

Follow us for updates on Twitter: twitter.com/GPM_LLP.

If you purchased or otherwise acquired Amyris securities during the Class Period you may move the Court no later than June 3, 2019 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com.  If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contact Information:

Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
[email protected]
www.glancylaw.com








Tags:    Wire, Legal Newswire, United States, English