Recent Security Class Actions

Zymergen Inc. Common Stock (NASDAQ: ZY)

Company Name:Zymergen Inc. Common Stock
Stock Symbol:NASDAQ: ZY
Class Period Start:04/23/2021
Class Period End (inclusive):08/04/2021
Filing Deadline:10/04/2021

The Complaint alleges that the Registration Statement was materially false and misleading and omitted to state material adverse facts. Specifically, the Complaint alleges Defendants failed to disclose to investors: (1) that, during the qualification process for Hyaline, key customers had encountered technical issues, including product shrinkage and incompatibility with customers’ processes; (2) that, though the qualification process was critical to achieving market acceptance for Hyaline and generating revenue, Zymergen lacked visibility into the qualification process; (3) that, as a result, the Company overestimated demand for its products; (4) that, 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) that, 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.