RADNOR, Pa.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24AMRS&src=ctag” target=”_blank”gt;$AMRSlt;/agt; lt;a href=”https://twitter.com/hashtag/classaction?src=hash” target=”_blank”gt;#classactionlt;/agt;–The law firm of Kessler Topaz Meltzer & Check, LLP reminds that an
investor securities fraud class action lawsuit has been filed against
Amyris, Inc. (Nasdaq: AMRS) (“Amyris”) on behalf of purchasers of Amyris
securities between March 15, 2018 and March 19, 2019,
inclusive (the “Class Period”).
Amyris investors who purchased securities during the Class Period
may, no later than June 3, 2019, seek to be
appointed as a lead plaintiff representative of the class.
Investors who wish to discuss this securities fraud class action lawsuit
or request additional information about this litigation are encouraged
to contact Kessler Topaz Meltzer & Check attorneys James Maro, Jr. or
Adrienne Bell at (888) 299-7706 (toll free) or online at: www.ktmc.com/amyris-securities-class-action.
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
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.
Amyris investors may, no later
than June 3, 2019, seek to be appointed as a lead
plaintiff representative of the class through Kessler Topaz Meltzer &
Check, or other counsel, or may choose to do nothing and remain an
absent class member. A lead plaintiff is a representative party who acts
on behalf of all class members in directing the litigation. In order to
be appointed as a 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 affected by the decision of
whether or not to serve as a lead plaintiff.
Kessler Topaz Meltzer & Check prosecutes class actions in state and
federal courts throughout the country involving securities fraud,
breaches of fiduciary duties and other violations of state and federal
law. Kessler Topaz Meltzer & Check is a driving force behind corporate
governance reform, and has recovered billions of dollars on behalf of
institutional and individual investors from the United States and around
the world. The firm represents investors, consumers and whistleblowers
(private citizens who report fraudulent practices against the government
and share in the recovery of government dollars). The complaint in this
action was not filed by Kessler Topaz Meltzer & Check. For more
information about Kessler Topaz Meltzer & Check, please visit www.ktmc.com.
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
280 King of Prussia Road
Radnor, PA 19087
299-7706 (toll free)