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The Pawar Law Group announces a class action lawsuit on behalf of BioAmber, Inc. (BIOA) investors who purchased BioAmber securities: (1) pursuant and/or traceable to BioAmber secondary public coffering on or about January 23, 2017; and/or (2) publicly traded on the open market from January 23, 2017 through March 16, 2017. The suit is for recovery of investor losses.
No class has been certified in the above action yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
According to the complaint, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) 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; and (2) as a result, defendants’ statements about BioAmber’s business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. On March 16, 2017, CEO Fabrice Orecchioni revealed that BioAmber experienced a disruption from a large customer that was expected to purchase $2.8 million of succinic acid in Q4 2016 but postponed the order to 2017 due to a technical problem in its manufacturing facility. On this news, shares of BioAmber fell $0.59 per share or over 18% to close at $2.55 per share on March 17, 2017, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than May 17, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. You may join the case here: http://pawarlawgroup.com/cases/rbioamber-inc/ or email Vik Pawar, Esq. at firstname.lastname@example.org
Vik Pawar, Esq.
Pawar Law Group
20 Vesey Street, Suite 1210
New York, NY 10007
Tel: (212) 571-0805
Fax: (212) 571-0938