NEW YORK, June 25, 2015 /PRNewswire/ -- Harwood
Feffer LLP (www.hfesq.com) is investigating potential claims
against the board of directors of Solzyme, Inc. ("Solazyme" or the
"Company") (NASDAQ: SZYM), concerning whether the board has
breached its fiduciary duties to shareholders.
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 Company is currently facing allegations that it concealed
material information regarding the production capacity of its oil
producing facility in Moema, Brazil. We are investigating
whether the Company improperly concealed ongoing construction
delays caused by insufficient access to utility services. The
true state of the facility was not revealed to the public until
November 5, 2014 when the Company
disclosed it needed to "narrow [its] production focus to smaller
volumes of higher value products." On this news, Solazyme
stock fell nearly 60% in one day.
Our investigation concerns whether the Company board of
directors has breached its fiduciary duties to shareholders,
grossly mismanaged the Company, and/or committed abuses of control
in connection with the foregoing.
If you own Solazyme shares and wish to discuss this matter with
us, or have any questions concerning your rights and interests with
regard to this matter, please contact:
Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
(212)935-7400
Email: bsachsmichaels@hfesq.com
Website: http://www.hfesq.com
Follow us on Twitter: @HarwoodFeffer
Harwood Feffer has been
representing individual and institutional investors for many years,
serving as lead counsel in numerous cases in federal and state
courts. Please visit the Harwood Feffer LLP website
(http://www.hfesq.com) for more information about the
firm.
The law firm responsible for this advertisement is Harwood
Feffer LLP (www.hfesq.com). Prior results do not guarantee or
predict a similar outcome with respect to any future matter.
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SOURCE Harwood Feffer LLP