NEW YORK, April 4, 2019 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of Amyris, Inc. ("Amyris" or the "Company") (NASDAQ: AMRS). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Amyris and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On November 13, 2018, Amyris reported disappointing financial results for the third quarter of 2018, including revenue of $14.9 million compared to $22.5 million in the prior year period, citing the "volatility of the Vitamin E market."
On this news, Amyris's stock price fell $1.76 per share, or 29.83%, to close at $4.14 per share on November 14, 2018.
Then, on March 19, 2019, Amyris disclosed that it would be unable to timely file its annual report due to "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." Amyris also disclosed that it "is in the process of completing its evaluation of internal control over financial reporting and may have further deficiencies to report."
On this news, Amyris's stock price fell $0.78 per share, or 20.10%, to close at $3.10 per share on March 20, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
SOURCE Pomerantz LLP