AMRS.US
id: 319
N.D. California
Court03/15/2018
Class period Start03/19/2019
Class period End10/25/2022
Claim deadlineCarbone v. Amyris, Inc., et al.
Amyris agreed to pay $13,5 million to settle a securities class action lawsuit accusing the Company of multiple suspected felonies.
The complaint alleged that Amyris and its Leaders were materially misrepresenting Amyris’s financial results, its royalty revenues, and the effectiveness of its internal control over financial reporting. These misleading statements created artificial inflation in the price of Amyris common stock.
The true facts began to reveal themselves on November 13, 2018, when Defendants announced disappointing Q3 royalty revenues that missed previous projections by $15 million.
Further, the complaint alleged that the truth was further revealed on March 19, 2019, when Amyris disclosed that it would be unable to timely file its annual report due to continued evaluation of Amyris’s internal control over financial reporting, which could result in material deficiencies being reported.
Following these disclosures, the price of Amyris’s stock fell nearly 30% and 20%, respectively.
Amyris agreed to settle with investors to avoid further litigation.
Case Status
Disbursed
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Plaintiffs
Vincent Carbone
Attorneys
Federman & Sherwood (Oklahoma City), Green & Noblin, P.C.
Judge
Hon. Yvonne Gonzalez Rogers
Administrator
KCC
Court hearing date
11/08/2022
Trades matching type
FIFO
+$13,500,000
Cash Settlement Amount