Amazon Stock Rises as Meta Expands AWS Partnership for AI Infrastructure 
Nvidia Pushes 800V Data Center Power Systems to Boost Efficiency and Cut Costs 
Hyundai Plans 20 New Models in China to Boost EV Strategy and Market Share 
Mercedes-Benz Faces Rising Competition in China but Rejects Price War Strategy 
SK Hynix to Invest $13 Billion in AI Chip Packaging Facility 
Rising Jet Fuel Costs from Iran Conflict Push Airfare Higher Across Europe 
Kakaku.com Stock Surges on EQT Takeover Interest Amid Rising Japan Deal Activity 
U.S. Raises Alarm Over Chinese AI Firms’ Alleged IP Theft Through Model Distillation 
Daiichi Sankyo Stock Drops After Earnings Delay and Oncology Review 
Brazil Blocks Prediction Market Platforms, Tightens Derivatives Trading Rules 
U.S. Sanctions Target Chinese Refinery Over Iranian Oil Purchases 
PLS Reports Record Lithium Output as EV Demand Fuels Market Growth 
LG Innotek Stock Hits Record High on $68M Automotive Wi-Fi 7 Deal 
Florida Launches Criminal Probe Into OpenAI Over FSU Shooting Incident 
Organon Stock Surges After Reports of $13 Billion Buyout Bid by Sun Pharma 
Microsoft Commits $18 Billion to Expand AI and Cloud Infrastructure in Australia 
Judge Dismisses Elon Musk’s Fraud Claims Against OpenAI, Trial to Proceed on Remaining Allegations 
 & Lead Plaintiff Deadline: May 17, 2017 - EconoTimes)
NEW YORK, May 15, 2017 -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against BioAmber Inc. (“BioAmber” or the “Company”) (NYSE:BIOA) and certain of its officers, and is on behalf of a class consisting of all persons or entities who purchased BioAmber securities: (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, inclusive (the “Class Period”). Investors are encouraged to learn more about this case by visiting the firm’s site: http://www.bgandg.com/bioa.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the “Exchange Act”).
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as 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) consequently, 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 after-market hours, BioAmber revealed disappointing financial results for its 2016 fiscal year, missing its previously issued revenue forecast by $1.3 million. On the conference call, company’s President Fabrice Orecchioni, attributed the unfortunate results to “pricing pressures” and “a disruption from a large customer that was expected to purchase 2.8 million of succinic acid in Q4 2016, but due to a technical problem in its manufacturing facility postponed the order to 2017.” Following this news, BioAmber stock dropped $0.59 per share or over 18% to close at $2.55 per share on March 17, 2017.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: http://www.bgandg.com/bioa or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. You have until May 17, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact: Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | [email protected]
