Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a securities class action lawsuit has been filed in the United States District Court for the Eastern District of New York against Danimer Scientific Inc.
FREE TIME FOR APPLICANTS IS JULY 13, 2021
NEW YORK, July 1, 2021 / PRNewswire / – Wolf Haldenstein Adler Freeman & Herz LLP announces that a state securities class action has been filed in The United States District Court of Eastern District of new York on behalf of investors who have purchased or acquired securities of Danimer Scientific Inc. (“Danimer” or the “Company”) (NYSE: DNMR) between December 30, 2020 and the March 19, 2021, including (the “Class Period”).
(PRNewsfoto / Wolf Haldenstein Adler Freeman)
All investors who have purchased shares in Danimer Scientific Inc. and have suffered losses are urged to contact the company immediately at firstname.lastname@example.org or (800) 575-0735 or (212) 545-4774. You can find out more about the promotion or join the case on our website www.whafh.com.
If you have suffered losses on your investment in Danimer Scientific Inc. shares, you can do so no later than July 13, 2021, request that the court appoint you as the lead plaintiff of the proposed group. Please contact Wolf Haldenstein to learn more about your rights as an investor in Danimer Scientific Inc. shares.
CLICK HERE TO JOIN THE CASE
On March, 20th, 2021, The Wall Street Journal published an article titled “Plastic Straws That Quickly Biodegrade in the Ocean, Not Quite, Scientists Say” faster than fossil plastics .
The article alleged that, according to several biodegradable plastics experts, “many claims about Nodax are exaggerated and misleading”. According to the article, Jason Locklin, the expert who co-authored the study touted by Danimer to validate the material, said Danimer’s marketing was “sensational” and that broad claims about Nodax’s biodegradability were “incorrect” and “greenwashing”.
On the news, Danimer’s share price fell $ 6.43 per share, or around 13% to close at $ 43.55 per share March 22, 2021.
The story goes on
Then on April 22, 2021, Spruce Point Capital Management (“Spruce Point”) released a report which, among other things, identified various inconsistencies with Danimer’s historical and current claims regarding the size of its business, the composition and degradability of Nodax, and the Company’s expected profitability were.
Because of this news, Danimer’s share price has fallen again $ 2.01 per share, or 8.04% to close on $ 22.99 per share April 22, 2021.
On May 4, 2021Spruce Point released another report on Danimer claiming the company had production figures, prices and financial projections based on documents received from the Commonwealth of Spruce Point Kentuckys Department of Environmental Protection (“KDEP”) under the Freedom of Information Act (“FOIA”), all of which cast serious doubts on the integrity of the company’s internal controls.
On the news, Danimer’s share price fell $ 1.49 per share, or 6.31% to close on $ 22.14 per share May 4, 2021.
Wolf Haldenstein has extensive experience prosecuting securities class actions and derivatives disputes in state and federal courts and appeals courts across the country. The firm has lawyers in various fields of activity; and offices in new York, Chicago and San Diego. This firm’s reputation and expertise in shareholder and other class action lawsuits have been recognized repeatedly by the courts who have appointed them to key positions in complex securities disputes involving multiple districts and affiliates.
If you would like to discuss this measure or if you have any questions about your rights and interests in this case, please contact us immediately Wolf Haldenstein call (800) 575-0735, email email@example.com, or visit our website.
Wolf Haldenstein Adler Freeman & Heart LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: firstname.lastname@example.org, email@example.com or firstname.lastname@example.org
Tel: (800) 575-0735 or (212) 545-4774
This press release may be viewed as a solicitation in some jurisdictions subject to applicable laws and ethical rules.
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SOURCE Wolf Haldenstein Adler Freeman & Heart LLP