NEW YORK, Oct. 13, 2007 (PRIME NEWSWIRE) -- The Rosen Law Firm (http://www.rosenlegal.com) announced today that a class action has been commenced in the United States District Court for the Southern District of Florida on behalf of purchasers of Dyadic International, Inc. ("Dyadic") (AMEX:DIL) securities during the period from November 10, 2006 through April 23, 2007 (the "Class Period").
To join the Dyadic securities litigation as a plaintiff or for further information, please call Laurence Rosen, Esq. or Phil Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com .
You can join the class action online at http://www.rosenlegal.com . A class action lawsuit has already been filed on behalf of Dyadic shareholders. If you wish to serve as lead plaintiff, you must move the Court no later than December 11, 2007. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact attorney Laurence Rosen, Esq. or Phil Kim Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com. No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. You may also remain an absent class member.
The complaint asserts claims against defendants Dyadic International, Inc., Mark A. Emalfarb, Stephen J. Warner, Harry Z. Rosengart, Richard J. Berman, Robert B. Shapiro and Glenn E. Nedwin for violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The complaint alleges operational and financial improprieties perpetrated by the Company and its Asian subsidiaries, and knowingly and/or recklessly approved by the defendants, which culminated in an internal investigation and subsequent firing of the Company's Chairman and Chief Executive Officer Mark A. Emalfarb. As a result of the improprieties in the Company's Asian subsidiaries and the subsequent internal investigation, the Company has abandoned its Asian operations and the Company's stock, which was artificially inflated as a result of the material omissions and misstatements contained within the Company's publicly filed financial statements and reports, is no longer publicly traded and is at risk of being delisted, resulting in total loss of equity for owners of Dyadic's securities.
The Rosen Law Firm http://www.rosenlegal.com has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud. The Rosen Law Firm represents investors throughout the nation, concentrating its practice in securities class actions.
More information on this and other class actions can be found on the Class Action Newsline at www.primenewswire.com/ca