NEW YORK, April 06, 2017 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of BioAmber Inc. securities (NYSE:BIOA): (1) pursuant and/or traceable to BioAmber’s secondary public offering on or about January 23, 2017 (the “Offering”); and/or (2) publicly traded on the open market from January 23, 2017 through March 16, 2017, inclusive (the “Class Period”). The lawsuit seeks to recover damages for BioAmber investors under the federal securities laws.
To join the BioAmber class action, go to http://www.rosenlegal.com/cases-1089.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
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 AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, 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.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 17, 2017. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-1089.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.