According to the lawsuit, the Registration Statement featured false and/or misleading statements and/or failed to disclose that:
- during the qualification process for Hyaline, key customers had encountered technical issues, including product shrinkage and incompatibility with customers’ processes;
- though the qualification process was critical to achieving market acceptance for Hyaline and generating revenue, Zymergen lacked visibility into the qualification process;
- as a result, Zymergen overestimated demand for its products;
- as a result of the foregoing, Zymergen’s product delivery timeline was reasonably likely to be delayed, which in turn would delay revenue generation; and
- as a result of the foregoing, Defendants’ positive statements about Zymergen’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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