San Diego, CA -- (SBWIRE) -- 11/30/2016 -- An investor, who purchased shares of Terravia Holdings Inc (NASDAQ:SZYM), filed a lawsuit in California over alleged Securities Laws violations by Terravia Holdings Inc in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Terravia Holdings Inc (NASDAQ:SZYM) have certain options and for certain investors are short and strict deadlines running. Deadline: January 17, 2017. NASDAQ:SZYM investors should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The plaintiff alleges on behalf of purchasers of Terravia Holdings Inc (NASDAQ:SZYM) common shares between August 8, 2016 and November 7, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between August 8, 2016 and November 7, 2016 the defendants made false and/or misleading statements and/or failed to disclose that TerraVia's products caused gastrointestinal distress, such as nausea and vomiting and that as a result, Defendants' statements about TerraVia's business, operations, and prospects were false and misleading and/or lacked a reasonable basis at all relevant times.
On November 7, 2016, an article was published entitlet "Soylent Thinks It Found What Was Making People Sick: Algae", stating that Rosa Foods, Inc.'s flagship meal replacement drink, Soylent, contains an algal flour ingredient provided by Terravia Holdings Inc that causes consumers to become sick and that Rosa Foods will be removing the ingredient altogether from its product formulations by early 2017. Although Terravia Holdings Inc Senior Vice President denied that Terravia Holdings Inc's algal flour was responsible, it was reported that Terravia Holdings Inc sent a letter in July to a separate customer, EN-R-G Foods, LLC warning that Terravia Holdings Inc's algal protein ingredient had been linked to a "modest number of reports" related to EN-R-G's Honey Stinger energy bar showing ailments similar to those reported by Soylent customers, namely nausea and vomiting.
Shares of Terravia Holdings Inc (NASDAQ:SZYM) closed on November 29, 2016 at $2.15 per share.
Those who purchased shares of Terravia Holdings Inc have certain options and should contact the Shareholders Foundation.
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