SAN DIEGO & EMERYVILLE, Calif.--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP is investigating whether certain officers and directors of Amyris, Inc. (NasdaqGS: AMRS) violated federal securities laws by issuing materially false and misleading statements regarding the company's business and operations. Amyris provides various alternatives to a range of petroleum-sourced products worldwide.
View this press release on the firm's Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/amyris-inc-april-2017
Amyris Unable to Recognize $10 Million in Revenue
On April 17, 2017, Amyris filed a Form 10-K with the U.S. Securities and Exchange Commission reporting revenues of $67.2 million for fiscal year 2016 – a decrease of $10 million from the revenue figures it disclosed on March 2, 2017 and April 3, 2017. The decline in revenue was attributed to Amyris' decision in the first quarter of 2017 to take an equity stake in one of Blue California's affiliates instead of taking a cash payment as required under the license agreement. Over the course of the following three trading days, Amyris' stock fell $0.19 per share, or approximately 27%, to close at $0.51 per share on April 20, 2017.
Amyris Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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