Goldberg
Law PC announces that a class action lawsuit has been filed in the
United States District Court for the Northern District of California
against Solazyme, Inc. (“Solazyme” or the “Company”) (NASDAQ: SZYM),
for alleged violations of the federal securities laws. Investors who
purchased or otherwise acquired shares between February 27, 2014 and
November 5, 2014, inclusive (the “Class Period”), have until August 24,
2015 to serve as lead plaintiff in the class action.
If you are a shareholder who suffered a loss during the Class Period, we
advise you to contact Michael
Goldberg or Brian Schall,
of Goldberg Law PC, 13650 Marina Pointe Dr. Suite 1404, Marina Del Rey,
CA 90292, at 800-977-7401, to discuss your rights without cost to you.
You can also reach us through the firm’s website at http://www.Goldberglawpc.com,
or by email at info@goldberglawpc.com.
The class in this case has not yet been certified, and until
certification occurs, you are not represented by an attorney. If you
choose to take no action, you can remain an absent class member.
Solazyme is a San Francisco-based bioproducts company that produces
sustainable oils from microalgae. The Company uses an industrial
fermentation process to transform plant-based sugars into triglyceride
oils, which are used in a wide range of products.
The complaint alleges that Solazyme made false and/or misleading
statements and concealed material information concerning the production
capacity of its oil producing facility in Moema, Brazil. Solazyme
improperly concealed ongoing construction delays caused by inadequate
access to electricity and steam utility services. The diminished
capacity of Solazyme’s Brazilian oil facility was made known to the
investing public on November 5, 2014, when the Company disclosed that it
needed to “narrow [its] production focus to smaller volumes of higher
value products.” As a result of this news, shares of Solazyme fell $4.35
per share, or 58.08 percent, to close on November 6, 2014, at $3.14 per
share on heavy volume.
If you have any questions concerning your legal rights in this case,
please immediately contact Goldberg Law PC at 800-977-7401, or visit our
website at http://www.Goldberglawpc.com,
or email us at info@goldberglawpc.com.
Goldberg Law PC represents shareholders around the world and specializes
in securities class actions and shareholder rights litigation.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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