Deadline Alert: Law Offices of Howard G. Smith Reminds Investors Of Looming Lead Plaintiff Deadline In The Class Action Lawsu...
August 19 2015 - 3:50PM
Business Wire
Law Offices of Howard G. Smith reminds investors of the upcoming
lead plaintiff deadline in the class action lawsuit filed on behalf
of a class comprising purchasers of the securities of Solazyme,
Inc. (“Solazyme” or the “Company”) (NASDAQ:SZYM) who purchased
securities between February 27, 2014 and November 5, 2014,
inclusive (the “Class Period”). Investors have until August 24,
2015 to file a motion to be appointed as a lead plaintiff in
this class action lawsuit.
Solazyme is a bioproducts company that uses algae-based
fermentation to produce renewable oils for a range of personal and
industrial uses. The complaint alleges that throughout the Class
Period, the Company made false and/or misleading statements, as
well as failed to disclose material adverse facts about Solazyme's
construction progress, development and production capacity at its
renewable oils production facility located in Moema, Brazil (the
"Moema Project"). Specifically, Defendants made false and/or
misleading statements and/or failed to disclose that: Solazyme
misstated and/or failed or disclose unfavorable news about the
Moema Project. Solazyme initially failed to report that the Moema
Project suffered construction delays stemming from the inadequate
availability of electricity and steam utilities. As a result, the
lawsuit alleges that Solazyme was prevented from increasing output
to its previously projected levels. On or around November 5, 2014,
when the truth regarding the Moema Project was revealed to
investors, the Company's stock declined $4.35 per share, or 58%, to
close at $3.14 per share on November 6, 2014.
If you purchased Solazyme shares during the Class Period, if you
have information or would like to learn more about these claims, or
have any questions concerning this announcement, 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