SOURCE: Hagens Berman

Hagens Berman

October 22, 2014 08:30 ET

Hagens Berman Reminds All Investors in Marrone Bio Innovations, Inc. (MBII) of November 4, 2014, Lead Plaintiff Deadline and Expanded Class Period

SAN FRANCISCO, CA--(Marketwired - October 22, 2014) - Hagens Berman Sobol Shapiro LLP, a top-tier investor-rights law firm, advises investors of the upcoming Nov. 4, 2014 lead plaintiff deadline in the securities fraud class action against Marrone Bio Innovations, Inc. (NASDAQ: MBII) ("Marrone" or "the Company"), filed in the U.S. District Court for the Eastern District of California, and the expanded class period which now includes all investors as far back as the initial public offering (IPO).

The class period in this case has been expanded. Investors who purchased Marrone securities in the open market since the IPO and September 2, 2014 (the "Class Period") should contact Hagens Berman Partner Reed Kathrein, who is leading the firm's investigation, by calling (510) 725-3000, emailing MBII@hbsslaw.com or visiting http://hb-securities.com/investigations/MBII.

The complaints, filed in the Eastern District of California, against the Company, its officers and directors, allege that the Company made false and misleading registration and financial statements in connection with its August 2013 Initial Public Offering and afterwards in the company's filings with the SEC . On September 3, 2014, the informed investors that the board's Audit Committee commenced an internal investigation after documents revealed revenue recognition issues with a material transaction. In the same announcement, Marrone stated that prior financial statements were no longer reliable under Generally Accepted Accounting Principles. When this information was revealed, Marrone's share price tumbled 44%.

"It appears that Marrone's assurances of the adequacy of their internal controls were just an attempt to mislead investors," said Mr. Kathrein. "The Company profited and insiders bailed, while investors are made to pay. Our investigation is continuing."

If you suffered a loss from your investment in Marrone securities purchased on or after August 2, 2013 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation. No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. But investors interested in moving to be a lead plaintiff must do so no later than November 4, 2014.

Whistleblowers: Persons with non-public information regarding Marrone should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. For more information, call Reed Kathrein at (510) 725-3000 or email MBII@hbsslaw.com.

About Hagens Berman
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 firm and its successes can be found at www.hbsslaw.com. Read the firm's Securities Newsletter at http://www.hb-securities.com/newsletter. The firm's blog is located at www.meaningfuldisclosure.com.

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Contact Information

  • Contact:
    Reed Kathrein
    510-725-3000