|[August 24, 2013]
Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit Against KiOR, Inc.
LOS ANGELES --(Business Wire)--
Binkow & Goldberg LLP announces that a class action lawsuit has
been filed in the United States District Court for the Southern District
of Texas on behalf of a class (the "Class") comprising all purchasers of
the securities of KiOR,
Inc. ("KiOR" of the "Company") (NASDAQ:KIOR) between August 14, 2012
and August 7, 2013, inclusive (the "Class Period").
A COPY OF THE COMPLAINT
IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW & GOLDBERG LLP. PLEASE
CONTACT US TOLL-FREE AT (888) 773-9224, OR AT (212) 682-5340, OR BY
EMAIL TO SHAREHOLDERS@GLANCYLAW.COM
TO DISCUSS THIS MATTER. IF YOU INQUIRE BY EMAIL PLEASE INCLUDE YOUR
MAILING ADDRESS, TELEPHONE NUMBER AND NUMBER OF SHARES PURCHASED.
KiOR is a renewable fuels company that utilizes a proprietary
biomass-conversion fuel technology platform for the production and sale
of cellulosic gasoline and diesel. The Complant alleges that defendants
issued false and/or misleading statements and/or failed to disclose
that: (1) the Company was not on track to produce commercially
meaningful quantities of biofuel at its Columbus, Mississippi, facility
in the amounts, or on the schedule, projected by management; (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.
On August 8, 2013, KiOR announced that the Company had shipped only
75,000 gallons of fuel from the Columbus facility during the second
quarter. In addition, the Company reported revenue for the quarter of
only $240,000 -- approximately 12% of the $1.93 million average of five
analysts' estimates compiled by Bloomberg (News - Alert). Following this news,
KiOR shares dropped -- from $4.76 per share on August 7, 2013 to $2.62
on August 15, 2013.
If you are a member of the Class described above you may move the Court
no later than October 21, 2013 to serve as lead plaintiff; however, you
must meet certain legal
If you wish to learn
more about this action or have any questions concerning this
announcement or your rights or interests with respect to these matters,
please contact Michael
Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century
Park East, Suite 2100, Los Angeles, California 90067, Toll Free at (888)
773-9224, or contact Gregory
Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd
Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by
e-mail to email@example.com,
or visit our website at http://www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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