The Rosen Law Firm, P.A. announces that it is investigating potential securities claims against KiOR, Inc. (NASDAQ: KIOR) resulting from allegations that the Company may have issued materially inaccurate statements about the Company’s financial condition and prospects.
On May 9, 2013, KiOR held an earnings call where the Company’s CEO Fred Cannon forecasted that total fuel production for its Columbus facility would be between 300,000 and 500,000 gallons during the second quarter of 2013, which is in line with the Company’s estimate of producing between 3 to 5 million gallons of fuel for 2013. On August 8, 2013, KiOR disclosed that it had only shipped 75,000 gallons of fuel from this facility during the second quarter. As a result, KiOR announced revenue of only $240,000 for the quarter, approximately 12% of the $1.93 million average of five analysts’ estimates compiled by Bloomberg. On this news, KiOR shares fell from a closing of $4.76 per share on August 7, 2013 to $2.89 on August 13, 2013.
The Rosen Law Firm is preparing a securities class action lawsuit on behalf of KiOR investors. If you purchased KiOR stock prior to August 8, 2013 please visit the website at http://www.rosenlegal.com to join the class action. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at email@example.com or firstname.lastname@example.org.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.Attorney Advertising. Prior results do not guarantee a similar outcome.