Portnoy Law: Lawsuit Filed On Behalf of Zymergen, Inc. Investors
Investors with losses of $100,000 or more are encouraged to contact the firm; clickhereto submit trade information
LOS ANGELES, Sept. 14, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Zymergen, Inc. (“Zymergen” or “the Company”) (NASDAQ : ZY) investors that acquired securities in connection with Zymergen’s April 2021 initial public offering.
It is alleged in this lawsuit that Zymergen’s Registration Statement was misleading and false and omitted to state that: (i) key customers had encountered technical issues, during the qualification process for Hyaline, including product shrinkage and incompatibility with customers’ processes; (ii) though the qualification process was critical in achieving market acceptance for Hyaline, as well as generating revenue, Zymergen lacked visibility into the qualification process; (iii) Zymergen overestimated demand for its products, as a result; and (iv) consequently, Zymergen’s product delivery timeline was reasonably likely to be delayed, in turn delaying generation of revenue..
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar