BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Zymergen Inc. (“Zymergen” or the “Company”) (NASDAQ: ZY) investors concerning the Company’s possible violations of the federal securities laws.
On August 3, 2021, after the market closed, Zymergen issued a business update stating that it “recently became aware of issues with its commercial product pipeline that will impact the Company’s delivery timeline and revenue projections.” As a result, Zymergen “no longer expects product revenue in 2021, and expects product revenue to be immaterial in 2022.” The Company also announced that its Chief Executive Officer, Josh Hoffman, was stepping down, effective immediately.
On this news, the Company’s share price fell as much as 70% in afterhours trading on August 3, 2021, thereby injuring investors.
If you purchased Zymergen securities, have information or would like to learn more about these claims, or 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 our website at www.howardsmithlaw.com.
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