If you have purchased shares of Amyris Inc (NASDAQ:AMRS)between April 29, 2011 and February 8, 2012, call 1-800-934-2921 right now to protect your rights.
Filing deadline: 07/15/2013
The suit has been filed on behalf of all investors who acquired Amyris Inc securities during the same time period where the misleading or false statements have been allegedly made. The plaintiff is alleging that NASDAQ:AMRS has made actions which violate Section 10(b) and 20(a) of the Securities Exchange Act of 1934.
According to the plaintiff, between April 29th 2011 and February 8th 2012, Amyris had made it a priority to produce and sell Biofene and derivative products, which have multiple applications in the field of specialty chemicals.
A report released by Amyris showed that their annual revenue went up from $13.89 million in 2008 to $146.99 million in 2011. But at the same time, the company's net loss grew from $41.86 million to 178.87 million.
On April 29th 2011, Amyris Inc (NASDAQ:AMRS) released an announcement stating that the company had completed the creation of a facility which can produce Biofene. On August 15th 2011, Amyris made another announcement which stated that a third such facility had been put into service.
On February 9th 2012, a conference call that was broadcast over the web was held by Amyris Inc, with the objective of talking about matters related to guidance for 2012. It was during this conference that the company's CEO announced that due to lower volume, Amyris would deviate from its plan of making 40 to 50 million liters of Biofene during the year. The CEO also added that the company isn't expecting to see a positive cashflow from its operations in 2012 and will be raising more equity financing to cover the shortfall.
Shares of NASDAQ:AMRS have significantly decreased in value, going from $30 early in 2011 to a low point of $1.59 in May 2012. As of May 17th 2013, shares of Amyris Inc were trading at $2.96.
Own shares of Amyris Inc (NASDAQ:AMRS)? Contact us to protect your rights.
If you have purchased shares of Amyris Inc (NASDAQ:AMRS)between April 29, 2011 and February 8, 2012, call 1-800-934-2921 right now to protect your rights. Complete the form on this page or call attorney Bill Kyros at 1-800-934-2921 right now to protect your rights.