|[August 22, 2013]
Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against KiOR, Inc.
WILMINGTON, Del. --(Business Wire)--
Rigrodsky & Long, P.A.:
Do you, or did you, own shares of KiOR, Inc. (NASDAQ GS: KIOR)?
Did you purchase your shares before August 14, 2012, or between
August 14, 2012 and August 7, 2013, inclusive?
Did you lose money in your investment in KiOR, Inc.?
Do you want to discuss your rights?
& Long, P.A., including former Special Assistant United States
Attorney, Timothy J. MacFall, announces that a complaint has been filed
in the United States District Court for the Southern District of Texas
on behalf of all persons or entities that purchased the common stock of
KiOR, Inc. ("KiOR" or the "Company") (NASDAQ GS: KIOR)
between August 14, 2012 and August 7, 2013, inclusive (the "Class
Period"), alleging violations of the Securities Exchange Act of 1934
against the Company and certain of its officers (the "Complaint").
If you purchased shares of KiOR during the Class Period, or purchased
shares prior to the Class Period and still hold KiOR, and wish to
discuss this action or have any questions concerning this notice or your
rights or interests, please contact Timothy
J MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 825
East Gate Boulevard, Suite 300, Garden City, NY at (888) 969-4242, by
e-mail to firstname.lastname@example.org, or
KiOR is a next-generation renewable fuels company, producing cellulosic
gasoline and diesel from abundant non-food biomass. The Complaint
alleges that throughout the Class Period, defendants made materially
false and misleading statements, and omitted materially adverse facts,
about the Company's business, operations and prospects. Specifically,
the Complaint alleges that the defendants concealed from the investing
public that: (1) the Company was not on track to produce commercially
meaningful quantities of biofuel at its Columbus, Mississippi facility
in the amounts projected by management during the timeframes promised;
(2) the Company lacked adequate internal and financial controls over its
calculation and forecasting of production levels at the Columbus
facility; and (3) as a result of the foregoing, the Company's statements
were materially false and misleading at all relevant times. As a result
of defendants' false and misleading statements, the Company's stock
traded at artificially inflated prices during the Class Period.
According to the Complaint, the Company falsely reassured investors that
it remained on track to achieve commercially meaningful biofuel
production levels at the Columbus facility during the timeframes
promised. Specifically, during the Company's first quarter 2013
conference call on May 9, 2013, it was announced that the Company's
total fuel production during the second quarter of 2013 would range
between 300,000 and 500,000 gallons, which would be in line with its
projected production range of 3 million to 5 million gallons for 2013.
However, on August 8, 2013, the Company disclosed to investors that it
had only shipped 75,000 gallons of biofuel during the second quarter of
2013 - far below the range previously announced to investors.
On this news, shares in KiOR progressively dropped more than 44%,
closing at $2.62 per share on August 15, 2013, from a close of $4.76 per
share prior to the August 8, 2013 announcement.
If you wish to serve as lead plaintiff, you must move the Court no later
than October 21, 2013. A lead plaintiff is a representative party acting
on behalf of other class members in directing the litigation. In order
to be appointed lead plaintiff, the Court must determine that the class
member's claim is typical of the claims of other class members, and that
the class member will adequately represent the class. Your ability to
share in any recovery is not, however, affected by the decision whether
or not to serve as a lead plaintiff. Any member of the proposed class
may move the court to serve as lead plaintiff through counsel of their
choice, or may choose to do nothing and remain an absent class member.
& Long, P.A. did not file the Complaint in this matter, the
firm, with offices in Wilmington, Delaware and Garden City, New York, regularly
litigates securities class, derivative and direct actions, shareholder
rights litigation and corporate governance litigation, including
claims for breach of fiduciary duty and proxy violations in the Delaware
Court of Chancery and in state and federal courts throughout the United
Attorney advertising. Prior results do not guarantee a similar outcome.
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