Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the District of Massachusetts on behalf of all persons or entities that purchased the common stock of Metabolix, Inc. (“Metabolix” or the “Company”) (NasdaqGM: MBLX) between March 10, 2010 and January 12, 2012 (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 (the “Complaint”). If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Scott J. Farrell, Esquire of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, NY at (888) 969-4242, by e-mail to email@example.com, or at: http://www.rigrodskylong.com/investigations/metabolix-inc-mblx. Metabolix is a bioscience company engaged in research and development in plastics, industrial chemicals and crops industries. The Company’s core area of business is bioplastics. The Complaint alleges that during the Class Period, Metabolix and certain officers of the Company, made materially false and misleading statements and omissions regarding Metabolix's business and operations. Specifically, the Complaint alleges that defendants materially misrepresented and/or failed to disclose that Telles LLC ("Telles"), the Company’s joint venture with Archer-Daniels-Midland (“ADM”), would not meet its commercial phase benchmark by mid-2010, or even in 2011, which would allow the Metabolix to receive royalty payments and payments from services from Telles; and that Metabolix's polyhydroxyalkanoate bioplastics product under the brand name "Mirel" was not a commercially viable product. Accordingly, it is alleged that defendants lacked a reasonable basis for their positive statements about the Company and its prospects. On January 12, 2012, Metabolix announced that ADM had terminated the Telles joint venture because uncertainty about projected capital and production costs, and the rate of market adoption, caused too much uncertainty about projected financial returns for ADM. ADM further disclosed that the Telles joint venture was neither delivering sufficient results, nor was expected to deliver sufficient results in a reasonable timeframe. Upon this news, Metabolix stock declined approximately 57%, to reach a multi-year low of $2.54 per share.
If you wish to serve as lead plaintiff, you must move the Court no later than April 17, 2012. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.While Rigrodsky & Long, P.A. did not file the Complaint in this matter, the firm, with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States. Attorney advertising. Prior results do not guarantee a similar outcome.