Milberg LLP Files Class Action Against Amyris, Inc. Alleging Violations of
U.S. Federal Securities Laws
NEW YORK -- May 15, 2013
Milberg LLP has filed a federal securities class action against Amyris, Inc.
("Amyris" or the "Company") (NASDAQ: AMRS) alleging violations of the
Securities Exchange Act of 1934. The action, filed in the United States
District Court for the Northern District of California, is on behalf of
purchasers of Amyris securities between April 29, 2011 and February 8, 2012,
inclusive (the "Class Period").
Defendants’ are alleged to have violated the federal securities laws,
specifically Section 10(b) and 20(a) of the Securities Exchange Act of 1934.
Defendants in the case are Amyris and CEO John G. Melo.
According to the complaint, throughout the Class Period Amyris’s priority was
the commercialization and production of Biofene and its derivatives for sale
in a range of specialty chemical applications. The complaint further alleges
that defendants represented to investors hat it had the ability to produce
Biofene in commercially meaningful volumes, and that such representations were
materially false and misleading because in fact Amyris could not produce
Biofene in the amounts represented.
On November 1, 2011, Amyris disclosed that it would not be able to produce
Biofene in the quantities previously represented but that it had identified
and learned to address issues that would allow it to raise the volumes. In
reaction to the news, Amyris’ share price fell over 20% from $19.36 per share
to $15.47 per share. On February 9, 2012, Amyris executives reported a further
slowdown in Biofene production and announced the need to raise funds. Amyris
shares fell an additional 28%, from $9.73 per shares to $6.99 per share.
If you purchased Amyris common stock during the Class Period you may, no later
than July 15, 2013, request that the Court appoint you lead plaintiff of the
proposed class. A lead plaintiff is a class member that represents other class
members in directing the litigation. Your share in any recovery will not be
affected by serving as a lead plaintiff, however, lead plaintiffs make
important decisions that could affect the overall recovery for class members.
You do not need to be a lead plaintiff to recover as an absent class member.
You may retain Milberg LLP, or other attorneys, for this action, but do not
need to retain counsel to recover. If this action is certified as a class
action, class members will be automatically represented by Court-appointed
Milberg LLP has represented individual and institutional investors for over
four decades and serves as lead counsel in Courts throughout the United
States. Visit the Milberg website www.milberg.com) for more information about
the firm. If you wish to discuss this matter with us, please contact the
Andrei Rado, Esq.
One Pennsylvania Plaza, 49th Fl.
New York, NY 10119-0165
Phone number: 800-320-5081
Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.
Andrei Rado, Esq., 800-320-5081
Press spacebar to pause and continue. Press esc to stop.