Robbins Arroyo LLP: Amyris, Inc. (AMRS) Sued for Misleading Shareholders
Shareholder rights law firm
Robbins Arroyo LLP announces that purchasers of Amyris, Inc. (NASDAQ: AMRS) filed a class action complaint against the company
for alleged violations of the Securities and Exchange Act of 1934 between March 15, 2018 and March 19, 2019. Amyris purports to be
an industrial biotechnology company that manufactures and sells natural, sustainably-sourced products in health and wellness clean
beauty, and flavor and fragrance markets.
View this information on the law firm's Shareholder Rights Blog:
https://www.robbinsarroyo.com/amyris-inc-apr-19/
Amyris Accused of Making Materially False And Misleading Statements
According to the complaint, Amyris first disclosed certain material weaknesses identified by management in April 2018.
Throughout 2018, Amyris released 10Qs that reiterated that the previously-identified material weaknesses in internal control had
yet to be remediated. On November 2018, Amyris reported poor financial results. On this news, Amyris’ share price plummeted nearly
30% to close at $4.14 on November 14, 2018. On March 19, 2019, Amyris announced 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.” It also disclosed that it was
still “in the process of completing its evaluation of internal control over financial reporting.” On this news, Amyris’ share price
fell nearly 20% to close at $3.10 per share on March 20, 2019, and has continued to fall.
Amyris Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leo
Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the
shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion
of value for themselves and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar outcome.
Leo Kandinov
Robbins Arroyo LLP
5040 Shoreham Place
San Diego, CA 92122
LKandinov@robbinsarroyo.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20190412005387/en/