|[September 03, 2014]
ATTENTION MARRONE BIO INNOVATIONS, INC. SHAREHOLDERS: Johnson & Weaver, LLP Investigates Potential Violations of Federal and State Law Following Announcement of Audit Committee Investigation
SAN DIEGO --(Business Wire)--
Johnson & Weaver, LLP, a shareholder rights law firm, is investigating
potential claims on behalf of investors of Marrone Bio Innovations, Inc.
(NASDAQ: MBII). Marrone provides bio-based pest management and plant
health products for the crop protection, water treatment, and other
target markets in the United States and internationally and is based in
Davis, California. The firm's investigation seeks to determine whether
certain statements regarding the Company's business and financials were
false and misleading when made.
In a filing with the United States Securities and Exchange Commission
("SEC (News - Alert)") on September 3, 2014, Marrone announced that the Audit Committee
of the Company's Board of Directors commenced an internal investigation,
at the recommendation of management, after management learned of
documents which called into question the recognition of revenue in the
fourth quarter of 2013 for an $870,000 tranaction. Additionally, the
Audit Committee also determined that the Company's financial statements
for the fiscal year ended December 31, 2013, the unaudited interim
financial statements for the three month period ended March 31, 2014 and
the three- and six- month periods ended June 30, 2014, should no longer
be relied upon as being in compliance with generally accepted accounting
Following the release of this news, Marrone shares dropped more than
$2.40 per share - or as much as 43% - in intraday trading on September
3, 2014 on heavy volume.
If you are a Marrone shareholder and are interested in learning more
about the firm's investigation or your legal rights and remedies, or if
you have information that would assist us in our investigation, please
contact Michael I. Fistel, Jr. (firstname.lastname@example.org)
at 770-200-3104. If you email, please include your phone number.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law
firm with offices in California, New York, and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more information
about the firm and its attorneys, please visit http://www.johnsonandweaver.com.
Attorney advertising. Past results do not guarantee future outcomes.
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