NEW YORK, Nov. 8, 2016 /PRNewswire/ -- Pomerantz LLP
is investigating claims on behalf of investors of TerraVia
Holdings, Inc. ("TerraVia" or the "Company") (NASDAQ: TVIA) (ISIN:
US88105A1060). Investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com
or 888-476-6529, ext. 9980.
The investigation concerns whether TerraVia and certain of its
officers and/or directors have violated the federal securities
laws.
[Click here to join a class action]
On November 7, 2016,
Bloomberg published an article entitled "Soylent Thinks It
Found What Was Making People Sick: Algae." The article states that
Rosa Foods, Inc.'s ("Rosa Foods") flagship meal replacement drink,
Soylent, contains an algal flour ingredient provided by TerraVia
that causes consumers to become sick and that Rosa Foods will be
removing the ingredient altogether from its product formulations by
early 2017. Although TerraVia Senior Vice President
Mark Brooks adamantly denied that
the Company's algal flour was responsible, Bloomberg
reported that TerraVia sent a letter to a separate customer, EN-R-G
Foods, LLC ("EN-R-G"), in July, warning that TerraVia's algal
protein ingredient had been linked to a "modest number of reports"
related to EN-R-G's Honey Stinger
energy bar showing ailments similar to those reported by Soylent
customers, namely nausea and vomiting.
On this news, TerraVia's share price fell $0.15, or 8.11%, to close at $1.70 on November 7,
2016.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los
Angeles, 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
CONTACT:
Robert S.
Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
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SOURCE Pomerantz LLP