NEW YORK, Sept. 12, 2014 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that a class action has been filed on behalf of purchasers of Marrone Bio Innovations, Inc. (Nasdaq:MBII) securities during the period from March 7, 2014 through September 2, 2014. The lawsuit seeks to recover damages for Marrone shareholders under the federal securities laws.
To join the Marrone class action, go to the website at http://rosenlegal.com/cases-345.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, Marrone overstated its revenue. On September 3, 2014 Marrone shocked the market when it announced that its Audit Committee has commenced an internal investigation concerning revenue recognition in the fourth quarter of 2013. The Company also stated that its financial statements for year ended 2013 and the first two quarters of 2014 should no longer be relied upon by investors. In intraday trading on September 3, 2014, this adverse news caused Marrone's stock to fall more than 40%.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 4, 2014. If you wish to join the litigation go to http://rosenlegal.com/cases-345.html or to discuss your rights or interests regarding this class action, please contact, Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com.