NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of TerraVia Holdings, Inc. (NASDAQ:TVIA) resulting from allegations that TerraVia may have issued materially misleading business information to the investing public.
On November 7, 2016, Bloomberg published an article entitled Soylent Thinks It Found What Was Making People Sick: Algae, stating that Rosa Foods, Inc.’s flagship meal replacement drink, Soylent, contains an algal flour ingredient provided by TerraVia that causes consumers to become sick and that Rosa Foods will be removing the ingredient altogether from its product formulations by early 2017. Although TerraVia Senior Vice President Mark Brooks adamantly denied that TerraVia’s algal flour was responsible, Bloomberg reported that TerraVia sent a letter in July to a separate customer, EN-R-G Foods, LLC warning that TerraVia’s algal protein ingredient had been linked to a “modest number of reports” related to EN-R-G’s Honey Stinger energy bar showing ailments similar to those reported by Soylent customers, namely nausea and vomiting. On this news, shares of TerraVia’s fell $0.15 per shares or over 8% to close at $1.70 per share on November 7, 2016.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by TerraVia investors. If you purchased shares of TerraVia please visit the firm’s website at http://www.rosenlegal.com/cases-989.html for more information. You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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