On or around 01/14/2020 (Settlement preliminarily approval)
Filing Date: March 18, 2017
According to the law firm press release, the lawsuit alleges 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 June 6, 2017, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on August 7, 2017.
On June 5, 2018, the Court issued an Order staying all claims against Defendant BioAmber Inc. due to BioAmber's voluntary filing of a petition in the United States Bankruptcy Court for the District of Delaware.
On December 18, 2019, the parties entered into a Stipulation of Settlement. The Court issued an Order preliminarily approving the Settlement on January 14, 2020.
Company & Securities Information
Defendant: BioAmber Inc.
Sector: Basic Materials
Industry: Chemical Manufacturing
Ticker Symbol: BIOA
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.