Zeldes Haeggquist & Eck, LLP, a shareholder and consumer rights litigation firm, has commenced an investigation into possible violations of the federal securities laws and other violations of law by certain officers and directors at KiOR, Inc. (“KiOR”) (NASDAQ:KIOR).
KiOR is a renewable fuels company based in Pasadena, Texas that utilizes a proprietary biomass-conversion fuel technology platform for the production and sale of cellulosic gasoline and diesel. On August 8, 2013, KiOR announced that the Company had shipped only 75,000 gallons of fuel from the Columbus, Mississippi 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. Following this news, KiOR shares dropped nearly 50% – from $4.76 per share on August 7, 2013 to $2.62 on August 15, 2013.
The investigation focuses on what KiOR and its executives knew prior to their August 8, 2013 announcement, that KiOR was not on track to produce commercially meaningful quantities of biofuel at its Columbus facility in the amounts, or on the schedule, projected.
What You Can DoIf you are an investor in KiOR, you may have legal claims against KiOR and/or its Officers and Directors. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Amber L. Eck at 619-342-8000, or by email at firstname.lastname@example.org. There is no cost to you. Zeldes Haeggquist & Eck, LLP is a full-service law firm which brings major class actions nationwide on behalf of defrauded investors and consumers and handles a variety of complex business litigation matters. Please visit www.zhlaw.com or our blog for more information about the firm.