New York, New York--(Newsfile Corp. - September 23, 2021) - Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Zymergen Inc. (NASDAQ: ZY).
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This lawsuit is on behalf of investors who purchased ZY common stock pursuant and/or traceable to the documents issued in connection with the Company's April 2021 initial public offering.
Shareholders interested in representing the class of wronged shareholders have until October 4, 2021 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Zymergen Inc. issued materially false and/or misleading statements and/or failed to disclose that: (1) during the qualification process for the Company's optical film product, Hyaline, key customers had encountered technical issues, including product shrinkage and incompatibility with customers' processes; (2) though the qualification process was critical to achieving market acceptance for Hyaline and generating revenue, Zymergen lacked visibility into the qualification process; (3) as a result, the Company overestimated demand for its products; (4) as a result of the foregoing, the Company's product delivery timeline was reasonably likely to be delayed, which in turn would delay revenue generation; and (5) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97501