BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming June 19, 2017 deadline to file a lead plaintiff motion in the class action lawsuit filed on behalf of a class of investors who purchased or otherwise acquired Amyris, Inc. (“Amyris” or the “Company”) (NASDAQ: AMRS) securities between March 2, 2017 and April 17, 2017, inclusive (the “Class Period”). Amyris investors have until June 19, 2017 to file a lead plaintiff motion.
On April 17, 2017, Amyris disclosed revenues of $67.2 million for fiscal year 2016, a decrease of $10 million from 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 securities, you may move the Court no later than June 19, 2017 to request appointment as lead plaintiff in the putative class action lawsuit. 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 action lawsuit. 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 this lawsuit, 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 email@example.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.