Investigation of Solazyme, Inc. Announced by The Law Offices of Howard G. Smith
July 20 2015 - 10:45AM
Business Wire
Law Offices of Howard G. Smith announces an investigation on
behalf of investors of Solazyme, Inc. (“Solazyme” or the “Company”)
(NASDAQ: SZYM), for potential violations of the federal securities
laws. Solazyme investors that have lost over $75,000 are encouraged
to call Howard G. Smith, Esq. to discuss the alleged wrongdoing,
and steps investors can take to recover any losses caused by the
Company’s alleged fraud.
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 investigation concerns whether 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
over 58%, to close on November 6, 2014, at $3.14 per share on heavy
volume.
If you purchased Solezyme shares, have information or would like
to learn more about these claims, or have any questions concerning
this announcement or your rights or interests with respect to these
matters, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com