Levi & Korsinsky, LLP announces that a ZY class action lawsuit has been filed on behalf of investors who purchased Zymergen Inc. (ZY) common stock pursuant and/or traceable to the documents issued in connection with the Company’s April 2021 initial public offering. For more on the ZY Lawsuit please contact us today.
According to the lawsuit, throughout the Class Period defendants made 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.
If you suffered a loss in you have until October 4, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.