BERKELEY, Calif.--(BUSINESS WIRE)--Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, advises investors of the Oct. 21 deadline to move to be a lead plaintiff in the lawsuit filed against KiOR, Inc. (NASDAQ:KIOR) (“KIOR” or “The Company”) alleging the company violated the securities laws. Investors who suffered financial losses can inquire about this issue with Hagens Berman attorneys by emailing KIOR@hbsslaw.com.
“If that was the case, those estimates would seem to be a fairly transparent ploy to keep investment funds or financing in place.”
The lawsuit, filed on Aug. 20, 2013, identifies a proposed class of investors who purchased KIOR common stock between Aug. 14, 2012 and Aug. 7, 2013 (the “Class Period”). If you purchased KIOR common stock during that period and suffered significant financial losses, you may contact Hagens Berman Partner Reed Kathrein, who is leading the firm’s investigation, by calling (510) 725-3000. You can submit information online at http://www.hb-securities.com/investigations/KIOR.
The deadline to move for the position of lead plaintiff in the case is Oct. 21, 2013.
Hagens Berman’s investigation centers around what KIOR and its executives knew prior to an Aug. 8, 2013, announcement, in which the company told investors that it had shipped far less biofuel than it had previously projected.
Following the announcement, the company’s stock price was cut nearly in half.
“KIOR’s announcement came as a dramatic shock to investors, so we are investigating what the company’s executives knew long ago, and if they knew that their estimates were without basis, or subject to unstated material obstacles,” said Mr. Kathrein. “If that was the case, those estimates would seem to be a fairly transparent ploy to keep investment funds or financing in place.”
Hagens Berman reminds whistleblowers with inside information that rewards may be available to individuals who report information leading to a successful enforcement action by the Securities and Exchange Commission. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.
Hagens Berman Sobol Shapiro LLP is an investor-rights class-action law firm with offices in nine cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the law firm and its successes can be found at www.hbsslaw.com. The Firm’s securities law blog is at http://www.meaningfuldisclosure.com.