San Diego, CA -- (SBWIRE) -- 07/31/2013 -- An investigation on behalf of current long-term investors in shares of Amyris Inc (NASDAQ:AMRS), was announced concerning whether certain directors and officers of Amyris Inc are breached their fiduciary duties in connection with certain statements made between April 29, 2011 and February 8, 2012.
Investors who are current long term investors in Amyris Inc (NASDAQ:AMRS) shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in Amyris Inc (NASDAQ:AMRS) stocks follows a lawsuit filed recently against Amyris Inc over alleged securities laws violations. The investigation on behalf of current long term investors in Amyris Inc (NASDAQ:AMRS) stocks, concerns whether certain Amyris officers and directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. . District Court for the Northern District of California the plaintiff alleges that Amyris Inc violated the Section 10(b) and 20(a) of the Securities Exchange Act of 1934. More specifically, the plaintiff alleges that between April 29, 2011 and February 8, 2012 that Amyris’ priority was the commercialization and production of Biofene and its derivatives for sale in a range of specialty chemical applications.
On April 29, 2011, Amyris Inc (NASDAQ:AMRS) announced the completion of the first industrial-scale facility for the production of Biofene™, Amyris’s renewable farnesene. On August 15, 2011, Amyris Inc (NASDAQ:AMRS) announced the commissioning of its third industrial-scale facility for the production of Biofene.On November 1, 2011, Amyris reported its Third Quarter Financial Results.
Then on February 9, 2012, Amyris, Inc. conducted a webcast conference call to discuss updated guidance for 2012 and other related matters. During the conference call the Chief Executive Officer of Amyris Inc said that given the lower planned volume, Amyris is no longer adhering to its previously announced plan to produce 40-50 million liters of Biofene in 2012, and Amyris is no longer forecasting positive cashflow from operations in 2012 and to cover this gap, Amyris is raising additional equity financing.
NASDAQ:AMRS shares fell from over $30 in early 2011 to as low as 1.59 per share in May 2012.
For 2012, Amyris Inc reported that its annual Total Revenue declined from $146.99 million in 2011 to $73.69 million in 2012 and its respective Net Loss grew from $178.87 million to $205.14 million.
On July 30, 2013, NASDAQ:ARMS shares closed at $2.75 per share.
Those who are current long term stockholders of shares of Amyris Inc (NASDAQ:AMRS) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Jacob Rosenfeld
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com