LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) 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 suffering losses on their Amyris investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to firstname.lastname@example.org.
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 shares of 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 if you meet certain legal requirements. 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 Lesley Portnoy,
Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles,
California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com,
or visit our website at http://glancylaw.com.
If you inquire by email, please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.