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Oklahoma City, OK (April 8, 2019) – On April 3, 2019, a securities class action lawsuit was filed in the United States District Court for the Northern District of California against Amyris, Inc. (NASDAQ: AMRS). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is March 15, 2018 through March 19, 2019. Specifically, the lawsuit alleges that Defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company lacked sufficient resources to accurately account for certain transactions; (2) that, as a result, there was a material weakness in the Company’s internal controls over financial reporting; (3) that, as a result, the Company would be unable to timely file its annual report; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
On March 19, 2019, Amyris announced it was unable to file its annual report for fiscal year ended December 31, 2018 on time due to “the significant time and resources that were devoted to the accounting for and disclosure of the significant transactions with Koninklijke DSM N.V. that closed in November 2018.” The Company also disclosed that it was “in the process of completing its evaluation of internal control over financial reporting.” On this news, Amyris’ share price fell $0.78, or nearly 20% to close at $3.10 per share on March 20, 2019, thereby injuring investors.
Plaintiff seeks to recover damages on behalf of all Amyris, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Monday, June 3, 2019 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.
If you wish to discuss this action, obtain further information and participate in this or any other securities litigation, or should you have any questions or concerns regarding this notice or preservation of your rights, please contact: Robin Hester at email@example.com