This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Hagens Berman Continues Metabolix Investigation: 13 Days Remain Before Lead Plaintiff Deadline

Stocks in this article: MBLX

BERKELEY, Calif., April 4, 2012 /PRNewswire/ -- Hagens Berman today reminded investors that less than two weeks remain before the lead plaintiff deadline in a securities class-action lawsuit filed against Metabolix, Inc. (NASDAQ: MBLX) ("MBLX").

Investors who purchased shares of MBLX common stock between March 10, 2010, and Jan. 12, 2012 (the "class period"), have losses greater than $100,000 and desire to be a lead representative plaintiff, can also contact the firm for a consultation. The deadline to move the court for lead plaintiff status is April 17, 2012.  

Investors can reach Partner Reed Kathrein, who is leading the firm's investigation, by calling (510) 725-3000. They can also contact Mr. Kathrein online by sending an email to MBLX@hbsslaw.com or by visiting www.hbsslaw.com/MBLX.

MBLX partnered with Archer-Daniels-Midland to produce plastics under the brand name Mirel. However, on Jan. 12, 2012, MBLX announced that ADM had given notice it would be ending the partnership.

The securities class-action lawsuit was filed in the United States District Court for the District of Massachusetts. The complaint claims that MBLX misled investors regarding the company's financial performance. Specifically, it alleges that MBLX knew that Mirel was not commercially viable, but failed to disclose this to investors.

Following MBLX's announcement that ADM  was ending the partnership, MBLX shares dropped more than 50 percent to $2.54.

Hagens Berman is investigating whether MBLX management had warning about ADM's decision or knew that Mirel was not commercially viable.

Whistleblowers

Persons with knowledge that may help the investigation are also encouraged to contact the firm. The SEC recently finalized new rules as part of its implementation of the whistleblower provisions in the Dodd-Frank Wall Street Reform Bill. The new rules protect whistleblowers from employer retaliation and allow the SEC to reward those who provide information leading to a successful enforcement with up to 30 percent of the recovery.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs