According to the Complaint, Amyris, Inc. purports to be an industrial biotechnology company that manufactures and sells natural, sustainably sourced products in health and wellness, clean beauty, and flavor and fragrance markets.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company lacked sufficient resources to accurately account for certain transactions; (2) that, as a result, there was a material weakness in the Company’s internal controls over financial reporting; (3) that, as a result, the Company would be unable to timely file its annual report; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
On June 28, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on September 13. Defendants filed a Motion to Dismiss the amended Complaint on October 25. On October 5, 2020, the Court issued an Order denying Defendants' Motion to Dismiss.
Plaintiffs filed a Motion for Class Certification on July 30, 2021. On December 8, the Court issued an Order partially granting the Class Certification Motion.
The parties entered into a Stipulation and Agreement of Settlement on March 24, 2022. On July 22, the Court granted preliminary approval of the Settlement. On November 8, the Court granted final approval of the Settlement, including an award of Attorneys’ Fees and Expenses, and entered Final Judgment.