LOS ANGELES--(BUSINESS WIRE)--The Wagner Firm reminds investors that purchasers of the securities of Marrone Bio Innovations, Inc. (“Marrone” or the “Company”) (NASDAQ:MBII) between the Company’s August 2, 2013 Initial Public Offering and September 2, 2014, inclusive (the “Class Period”), have until November 4, 2014, to file a motion to be appointed as lead plaintiff in the shareholder lawsuit filed in the United States District Court for the Eastern District of California.
Marrone investors are encouraged to contact Avi Wagner at (310) 491-7949 or by e-mail at email@example.com to discuss this matter.
Marrone provides bio-based pest management and plant health products for crop protection, water treatment and other target markets in the United States and internationally. The Complaint alleges that defendants made false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations and prospects. Specifically, defendants misrepresented and/or failed to disclose that: (1) Marrone’s financial statements contained errors related to the improper recognition of revenues; (2) the Company lacked adequate internal controls over financial reporting; and (3), as a result of the foregoing, the Company’s financial statements were materially false and misleading at all relevant times.
On September 3, 2014, the Company filed a Form 8-K with the Securities and Exchange Commission announcing, among other things, that some of its previously issued financial statements should no longer be relied upon as being in compliance with generally accepted accounting principles. Following these disclosures, the price of Marrone shares fell $2.50, or over 44%, to close at $3.15 on September 3, 2014.
If you are a member of the Class described above, you may move the Court no later than November 4, 2014, to serve as lead plaintiff, if you meet certain legal requirements. If you wish to learn more about this action or receive a copy of the complaint, please contact Avi Wagner, Esquire, of The Wagner Firm, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, at (310) 491-7949, by e-mail at firstname.lastname@example.org, or visit our website at http://thewagnerfirm.com.
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