Levi & Korsinsky announces that a class action lawsuit has been
commenced in the USDC for the Southern District of Texas on behalf of
investors who purchased KiOR, Inc. (“Kior” or the “Company”)
(NASDAQ:KIOR) securities between August 14, 2012 and August 7, 2013.
For more information, click here: http://zlk.9nl.com/kior-inc-kior/.
The complaint alleges that throughout the Class Period, defendants made
false and/or misleading statements and/or failed to disclose that: (a)
the Company was not on track to produce commercially meaningful
quantities of biofuel at its Columbus facility in the amounts projected
by management; (b) the Company lacked adequate internal and financial
controls over its calculation and forecasting of production levels at
said facility; and (c) as a result of the foregoing, the Company's
statements were materially false and misleading at all relevant times.
On August 8, 2013, KiOR announced it had only shipped 75,000 gallons of
fuel from this facility during the second quarter. The Company also
announced a net loss of $38.5 million for the second quarter, compared
to a loss of $31.3 million for the first quarter of the year. Upon this
news, shares of KiOR fell from a close of $4.72 per share on August 7,
2013 to a close of $3.67 on August 12, 2013.
If you suffered a loss in KiOR you have until October 21, 2013 to
request that the Court appoint you as lead plaintiff. Your ability to
share in any recovery doesn’t require that you serve as a lead
plaintiff. To obtain additional information, contact Joseph E. Levi,
Esq. either via email at jlevi@zlk.com
or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/kior-inc-kior/.
Levi & Korsinsky is a national firm with offices in New York, New
Jersey, Connecticut, and Washington D.C. The firm has extensive
expertise in prosecuting securities litigation involving financial
fraud, representing investors throughout the nation in securities and
shareholder lawsuits. Attorney advertising. Prior results do not
guarantee similar outcomes.
Copyright Business Wire 2013