BioAmber Inc. (NYSE:BIOA
Period: Jan 23, 2017 to Mar 16, 2017
Lead Plaintiff Deadline: May 17, 2017
Summary of Case:
A securities class action has been filed against BioAmber Inc. (NYSE:BIOA") on behalf of purchasers of BioAmber Inc. securities (NYSE:BIOA): (1) pursuant and/or traceable to BioAmber's secondary public offering on or about January 23, 2017 (the "Offering"); and/or (2) publicly traded on the open market from January 23, 2017 through March 16, 2017. This case has been filed in the USDC - NY (Eastern).
The complaint 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 March 16, 2017, CEO Fabrice Orecchioni revealed that BioAmber experienced a disruption from a large customer that was expected to purchase $2.8 million of succinic acid in Q4 2016 but postponed the order to 2017 due to a technical problem in its manufacturing facility. On this news, shares of BioAmber fell $0.59 per share or over 18% to close at $2.55 per share on March 17, 2017, damaging investors.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.