NEW ORLEANS, Aug. 07, 2015 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until August 24, 2015 to file lead plaintiff applications in a securities class action lawsuit against Solazyme, Inc. (Nasdaq:SZYM) if they purchased the Company’s securities between February 27, 2014 and November 5, 2014, inclusive (the “Class Period”), including purchasers in the Company’s registered public offerings on March 27, 2014. This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased shares of Solazyme and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by August 24, 2015.
About the Lawsuit
Solazyme and certain of its executives are charged with failing to disclose material information during the Class Period and in connection with the March 27, 2014 Offerings, violating federal securities laws.
Solazyme allegedly made false statements and omissions about its construction progress, development and production capacity at its renewable oils production facility located in Moema, Brazil (the "Moema Facility"), failing to disclose that the Moema Facility was experiencing construction delays due to insufficient access to electricity and steam utility services, and that these challenges would prohibit the Moema Facility from scaling its capacity production as projected.
On November 5, 2014, the truth regarding the Moema Project was revealed to investors, and the price of Solazyme’s shares plummeted by 58%.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.
Contact: Kahn Swick & Foti, LLC Lewis Kahn, Managing Partner email@example.com 1-877-515-1850 206 Covington St. Madisonville, LA 70447
Source:Kahn Swick & Foti, LLC