LOS ANGELES--(EON: Enhanced Online News)--Lundin Law PC, a shareholder rights firm announces a class action lawsuit against BioAmber Inc. (“BioAmber” or the “Company”) (NYSE: BIOA). Investors who purchased or otherwise acquired BioAmber shares between January 23, 2017 and March 16, 2017 inclusive (the “Class Period”), are encouraged to contact the firm in advance of the May 17, 2017 lead plaintiff deadline.
“a disruption from a large customer that was expected to purchase 2.8 million of succinic acid in Q4 2016, but due to a technical problem in its manufacturing facility postponed the order to 2017.”
No class has been certified in the above action yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
BioAmber announced that trading announced poor financial outcomes for the 2016 fiscal year, failing to meet its previously issued revenue guidance by $1.3 million. On an earnings conference call, President Fabrice Orecchioni of BioAmber, alleged the poor results were due to “pricing pressures” and “a disruption from a large customer that was expected to purchase 2.8 million of succinic acid in Q4 2016, but due to a technical problem in its manufacturing facility postponed the order to 2017.”
When this news was revealed to the investing public, the value of BioAmber dropped, causing investors harm.
Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders' rights.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.