BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Amyris, Inc. (“Amyris” or the “Company”) (NASDAQ: AMRS) securities between March 2, 2017 through April 17, 2017, inclusive (the “Class Period”). Amyris investors have until June 19, 2017 to file a lead plaintiff motion.
Investors that suffered losses on their Amyris investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.com.
On April 17, 2017, Amyris disclosed revenues of $67.2 million for fiscal year 2016, a decrease of $10 million compared to the figures it released on March 2, 2017 and April 3, 2017. According to Amyris, the surprising $10 million decrease resulted from the Company’s decision in the first quarter of 2017 to take an equity stake in Blue California’s affiliates, and therefore not recognize certain revenues from the license agreement with Blue California. On this news, shares of Amyris fell over 14% to close at $0.60 per share on April 18, 2017.
According to the complaint filed in this class action lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) in the first quarter of 2017, Amyris made a decision to take an equity stake in one of Blue California's affiliates that focused on the sweetener market in lieu of cash payment under the license agreement; (2) consequently, due to Amyris' decision, Amyris would be unable to recognize $10 million in fourth quarter and fiscal year 2016 revenue from the license agreement with Blue California; and (3) as a result, defendants' public statements were materially false and misleading at all relevant times.
If you purchased Amyris during the Class Period you may move the Court no later than June 19, 2017 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit the website at www.howardsmithlaw.com.
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