NEW YORK, Jan. 5, 2017 /PRNewswire/ -- Faruqi & Faruqi,
LLP, a leading national securities law firm, reminds investors in
TerraVia Holdings, Inc. ("TerraVia" or the "Company") (NASDAQ:TVIA)
of the January 17, 2017 deadline to
seek the role of lead plaintiff in a federal securities class
action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the U.S. District Court for the
Northern District of California on
behalf of all those who purchased TerraVia stock or options between
August 8, 2016 and November 7, 2016 (the "Class Period"). The
case, Perales v. TerraVia Holdings, Inc. et al, No.
16-cv-06633 was filed on November 16,
2016.
The lawsuit focuses on whether the Company and its executives
violated federal securities laws by failing to disclose that its
algae products could potentially cause illness to costumers.
Specifically, on November 7, 2016,
Bloomberg reported that TerraVia sent a letter to a
distributor in July 2016 warning that
TerraVia had received reports showing that algal protein in Soylent
products can cause gastrointestinal distress. Mark Brooks, senior vice president at TerraVia,
said that whole algal flour is safe and that Soylent products
contain several known irritants, such as soy protein isolate and
glycerin, which can cause symptoms similar to those reported by the
startup's customers.
On this news, TerraVia's share price fell from $1.85 per share on November 6, 2016 to a closing price of
$1.70 on November 7, 2016—a $0.15 or an 8.1% drop.
Request more information now by clicking here:
www.faruqilaw.com/TVIA. There is no cost or obligation to
you.
Take Action
If you invested in TerraVia stock or options between
August 8, 2016 and November 7, 2016 and would like to discuss your
legal rights, visit www.faruqilaw.com/TVIA. You can also contact us
by calling Richard Gonnello toll
free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to
rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also
encourages anyone with information regarding TerraVia's conduct to
contact the firm, including whistleblowers, former employees,
shareholders and others.
The court-appointed lead plaintiff is the investor with the
largest financial interest in the relief sought by the class that
is adequate and typical of class members who directs and oversees
the litigation on behalf of the putative class. Any member of the
putative class may move the Court to serve as lead plaintiff
through counsel of their choice, or may choose to do nothing and
remain an absent class member. Your ability to share in any
recovery is not affected by the decision of whether or not to serve
as a lead plaintiff.
Attorney Advertising. The law firm responsible for this
advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com).
Prior results do not guarantee or predict a similar outcome with
respect to any future matter. We welcome the opportunity to discuss
your particular case. All communications will be treated in a
confidential manner.
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello,
Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
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SOURCE Faruqi & Faruqi, LLP