- Do you, or did you, own shares of KiOR, Inc. (NASDAQ GS: KIOR )?
- Did you purchase your shares before August 14, 2012, or between August 14, 2012 and August 7, 2013, inclusive?
- Did you lose money in your investment in KiOR, Inc.?
- Do you want to discuss your rights?
According to the Complaint, the Company falsely reassured investors that it remained on track to achieve commercially meaningful biofuel production levels at the Columbus facility during the timeframes promised. Specifically, during the Company’s first quarter 2013 conference call on May 9, 2013, it was announced that the Company’s total fuel production during the second quarter of 2013 would range between 300,000 and 500,000 gallons, which would be in line with its projected production range of 3 million to 5 million gallons for 2013. However, on August 8, 2013, the Company disclosed to investors that it had only shipped 75,000 gallons of biofuel during the second quarter of 2013 – far below the range previously announced to investors.On this news, shares in KiOR progressively dropped more than 44%, closing at $2.62 per share on August 15, 2013, from a close of $4.76 per share prior to the August 8, 2013 announcement. If you wish to serve as lead plaintiff, you must move the Court no later than October 21, 2013. 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.