NEW YORK, Aug. 23, 2013 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at KiOR, Inc. ("KiOR" or the "Company") (NASDAQ: KIOR).
The investigation focuses on whether the Company and its executives violated federal securities laws with respect to its disclosures concerning business, operational, and compliance policies. Specifically, the investigation focuses on whether: (i) KiOR made false and misleading statements concerning its ability to produce enough biofuel to be commercially meaningful during the timeframes it announced and (ii) the Company had inadequate internal controls regarding the production level calculation and forecasting at its Columbus, Mississippi facility.
On August 8, 2013, KiOR announced that it shipped over 75,000 gallons of cellulosic fuel from Columbus, contrasting with its May 2013 estimation of producing 300,000 to 500,000 gallons. Following this news, the stock dropped 9.8%.
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If you invested in KiOR stock or options between August 14, 2012 and August 7, 2013 and would like to discuss your legal rights, visit www.faruqilaw.com/KIOR. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com or firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding KiOR's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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