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
TheStreet Open House

KiOR, Inc. Sued By Investor

Stocks in this article: KIOR

SAN DIEGO and PASADENA, Texas, Aug. 26, 2013 /PRNewswire/ -- Shareholder rights attorneys at Robbins Arroyo LLP announce that an investor of KiOR, Inc. (NASDAQ: KIOR) ("KiOR") has filed a complaint in the U.S. District Court for the Southern District of Texas.  The complaint alleges that the company and certain of its officers and directors violated the Securities Exchange Act of 1934 between August 14, 2012 and August 7, 2013 (the "Class Period").  KiOR is a renewable fuels company engaged in the production and sale of cellulosic gasoline and diesel from non-food biomass.

(Logo: http://photos.prnewswire.com/prnh/20130103/MM36754LOGO)

KiOR Accused of Making False and Misleading Statements

According to the complaint, KiOR made false and/or misleading statements regarding the company's business operations and prospects.  Specifically, the complaint alleges that, throughout the Class Period, the company and certain of its officers and directors made false and misleading statements regarding the timing of projected production levels of biofuels at the company's Columbus, Mississippi facility.  Further, the complaint alleges that, despite numerous setbacks and missed production targets, KiOR continued to reassure investors that the company remained on schedule to produce commercially meaningful levels of biofuel.  As a result of these false and misleading statements and omissions, KiOR shares traded at artificially inflated prices during the Class Period.

KiOR Stock Price Drops on Failure to Attain Biofuel Production Goals

On August 8, 2013, according to the complaint, KiOR revealed that for the second quarter 2013, the company had only shipped 75,000 gallons of biofuel, substantially below the target of 300,000 - 500,000 gallons promised to investors in May 2013.  On this news, KiOR shares fell $2.12 per share, or 44%, during the next six trading sessions, from a close of $4.76 per share on August 7, 2013, to a close of $2.62 per share on August 15, 2013.

If you invested in KiOR and would like to discuss your shareholder rights, please contact attorney Darnell R. Donahue at (800) 350-6003, ddonahue@robbinsarroyo.com, or via the shareholder information form on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in securities litigation and shareholder rights law.  The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.  For more information, please go to http://www.robbinsarroyo.com.

Press release link: http://www.robbinsarroyo.com/shareholders-rights-blog/kior-inc/

Attorney Advertising. Past results do not guarantee a similar outcome.  

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 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

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