RM LAW, P.C. is investigating potential claims against the board of directors of Zymergen Inc. ("Zymergen" or the "Company") (NASDAQ: ZY) investors concerning the Company’s possible violations of the federal securities laws.
If you own shares of Zymergen and would like to learn more about this class action or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here. You may also email Mr. Maniskas at rm@maniskas.com.
On August 3, 2021, after the market closed, Zymergen issued a business update stating that it "recently became aware of issues with its commercial product pipeline that will impact the Company’s delivery timeline and revenue projections." As a result, Zymergen "no longer expects product revenue in 2021, and expects product revenue to be immaterial in 2022." The Company also announced that its Chief Executive Officer, Josh Hoffman, was stepping down, effective immediately.
On this news, the Company’s share price fell as much as 70% in afterhours trading on August 3, 2021, thereby injuring investors.