Bernstein Liebhard LLP Announces That A Class Action Has Been Filed Against
NEW YORK, May 23, 2013
NEW YORK, May 23, 2013 /PRNewswire/ -- Bernstein Liebhard LLP today announced
that a class action has been commenced in the United States District Court for
the Northern District of California on behalf of a class (the "Class") of
purchasers of Amyris, Inc. ("Amyris" or the "Company") (NASDAQ: AMRS)
securities between April 29, 2011 and February 8, 2012, inclusive (the "Class
Defendants are alleged to have violated the federal securities laws,
specifically Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
Defendants in the case are Amyris and CEO John G. Melo.
Biofene is one of Amyris' most important products. Biofene is a renewable
chemical used in products such as cosmetics, fragrances, flavors, lubricants,
and transportation fuels. According to the complaint, throughout the Class
Period, Amyris' priority was the commercialization and production of Biofene
and its derivatives for sale in a range of specialty chemical applications.
The complaint alleges that defendants falsely represented that Amyris had the
ability to produce Biofene in commercially meaningful volumes.
On November 1, 2011, Amyris disclosed that it would not be able to produce
Biofene in the quantities previously represented but had identified and
learned to address issues that would allow it to raise the production 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 share to $6.99 per share.
Plaintiffs seek to recover damages on behalf of all Class members who invested
in Amyris securities during the Class Period. If you invested in Amyris
securities as described above during the Class Period, and either lost money
on the transaction or still hold the stock, you may wish to join in this
action to serve as lead plaintiff. In order to do so, you must meet certain
requirements set forth in the applicable law and file appropriate papers no
later than July 15, 2013.
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. Under certain circumstances, one or more
class members may together serve as lead plaintiff. Your ability to share in
any recovery is not, however, affected by the decision whether or not to serve
as a lead plaintiff. You may retain Bernstein Liebhard LLP, or other counsel
of your choice, to serve as your counsel in this action.
If you are interested in discussing your rights as an Amyris shareholder
and/or have information relating to the matter, please contact Joseph R.
Seidman, Jr. at (877) 779-1414 or email@example.com.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and
shareholder rights cases and recovered over $3 billion for its clients. It
has been named to The National Law Journal's "Plaintiffs' Hot List" in each of
the last ten years.
You can obtain a copy of the complaint from the clerk of the court for the
United States District Court for the Northern District of California.
Bernstein Liebhard LLP
10 East 40th Street
New York, New York 10016
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for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New
York, New York 10016, (212) 779-1414. The lawyer responsible for this
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do not guarantee or predict a similar outcome with respect to any future
Joseph R. Seidman, Jr.
Bernstein Liebhard LLP
SOURCE Bernstein Liebhard LLP
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