LOS ANGELES, Aug. 26, 2021 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Zymergen Inc. ("Zymergen" or "the Company") (NASDAQ: ZY) for violations of the federal securities laws.
Investors who purchased the Company's shares pursuant and/or traceable to the Company's initial public offering conducted in April 2021 (the "IPO"), are encouraged to contact the firm before October 4, 2021.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Zymergen's key customers suffered from technical problems during the qualification process for Hyaline including product shrinkage. Although the qualification process was critical to achieving customer acceptance for Hyaline, the Company had very little visibility into the process. The Company overestimated market demand for the new product. This led to likely product delays and, in turn, delays in revenue generation. Based on these facts, the Company's public statements throughout the IPO period were false and materially misleading. When the market learned the truth about Zymergen, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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SOURCE The Schall Law Firm