BioAmber Inc. was a Delaware-registered Canadian sustainable chemicals company. Its technology platform combined industrial biotechnology and chemical catalysis to provide new renewable chemicals to replace petroleum-based chemicals.

According to the law firm press release, the lawsuit alleges that 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. On April 20, the Court issued an amended preliminary approval Order. The Court granted final approval of the Settlement and entered Final Judgment on December 14.

The Court issued an Order granting Plaintiffs' Motion for distribution of Settlement funds on June 15, 2022.