Amyris, Inc. is an American synthetic biotechnology and renewable chemical company in the specialty chemicals, flavors and fragrances, cosmetics ingredients, pharmaceuticals, and nutraceuticals markets.

According to the law firm press release, the Complaint alleges that throughout the Class Period, Amyris’s priority was the commercialization and production of Biofene and its derivatives for sale in a range of specialty chemical applications. The Complaint further alleges that Defendants represented to investors that it had the ability to produce Biofene in commercially meaningful volumes, and that such representations were materially false and misleading because in fact Amyris could not produce Biofene in the amounts represented.

On November 1, 2011, Amyris disclosed that it would not be able to produce Biofene in the quantities previously represented but that it had identified and learned to address issues that would allow it to raise the volumes. In reaction to the news, Amyris’ share price fell over 20% from $19.36 per share to $15.47 per share. On February 9, 2012, Amyris executives reported a further slowdown in Biofene production and announced the need to raise funds. Amyris shares fell an additional 28%, from $9.73 per shares to $6.99 per share.

On July 29, 2013, the motion was granted appointing Lead Plaintiff for the Class and the law firms of Milberg LLP and Brodsky & Smith, LLC were approved and appointed as Lead Counsel for the proposed Class.

On October 25, 2013, a Consolidated Class Action Amended Complaint was filed by the Lead Plaintiffs against the Defendants.