STEVENSON, Md. -- (Business Wire)
The securities litigation law firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been commenced in
the United States District Court for the Eastern District of New York on
behalf of purchasers of BioAmber Inc. (NYSE: BIOA) (BioAmber or the
“Company”) pursuant and/or traceable to BioAmber’s secondary public
offering on or about January 23, 2017 and/or on the open market from
January 23, 2017 through March 16, 2017, inclusive (the “Class Period”).
Investors who wish to become proactively involved in the litigation have
until May 17, 2017 to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must
apply to be appointed lead plaintiff and be selected by the Court. The
lead plaintiff will direct the litigation and participate in important
decisions including whether to accept a settlement for the Class in the
action. The lead plaintiff will be selected from among applicants
claiming the largest loss from investment in BioAmber during the class
period. Members of the Class will be represented by the lead plaintiff
and counsel chosen by the lead plaintiff. No class has yet been
certified in the above action.
The complaint accuses the defendants of violations of the Securities
Exchange Act of 1934 and the Securities Act of 1933 by virtue of the
defendants’ failure to disclose during the Class Period, and in
connection with its secondary public offering (“SPO”) of Company shares
on or about January 23, 2017, that a large customer of BioAmber that was
expected to purchase $2.8 million of succinic acid in Q4 2016
experienced a technical problem in its manufacturing facility and
postponed the order to 2017.
According to the complaint, following a March 16, 2017 Company
announcement of disappointing financial results and of the postponed
order for succinic acid, the value of BioAmber shares declined
significantly.
If you have suffered a loss in excess of $100,000 from investment in
BioAmber during the class period and would like to learn more about this
lawsuit and your ability to participate as a lead plaintiff, without
cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html.
You may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com
or by telephone at (410) 415-6616. Brower Pivenalso encourages
anyone with information regarding the Company’s conduct during the
period in question to contact the firm, including whistleblowers, former
employees, shareholders and others.
Attorneys at Brower Piven have extensive experience in litigating
securities and other class action cases and have been advocating for the
rights of shareholders since the 1980s. If you choose to retain counsel,
you may retain Brower Piven without financial obligation or cost to you,
or you may retain other counsel of your choice. You need take no action
at this time to be a member of the class.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170509006699/en/
Contacts:
Brower Piven, A Professional Corporation
Charles J. Piven,
410-415-6616
1925 Old Valley Road
Stevenson, Maryland 21153
hoffman@browerpiven.com
Source: Brower Piven, A Professional Corporation
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