Danimer Scientific, Inc. f/k/a Live Oak Acquisition Corp. Securities Fraud Class Action

Case Background:

This is a securities fraud class action lawsuit on behalf of persons and entities that purchased or otherwise acquired Danimer Scientific, Inc. (“Danimer”) securities between October 5, 2020 and May 4, 2021, inclusive (the “Class Period”). 
The complaint alleges that throughout the Class Period, the Defendants made false and/or misleading statements and/or failed to disclose that: (1) the defendants overstated and/or misstated the biodegradability and environmentally-friendly nature of its Nodax product; (2) the defendants misrepresented the size of Danimer’s facilities, production capacity and actual production amounts, and costs; (3) the defendants misrepresented Danimer’s growth, financial results, and financial projections; (4) Danimer had deficient internal controls; and (5) as a result, Danimer’s public statements were materially false and misleading at all relevant times. 

Current Status of Case:

On September 30, 2023, the Court granted Defendants’ Motion to Dismiss the complaint and denied Lead Plaintiff’s request for leave to amend. On October 2, 2023, Judgment was entered closing the case. The Lead Plaintiff appealed that order to the Second Circuit Court of Appeals on October 27, 2023. On October 18, 2024, the Second Circuit Court affirmed the District Court’s Judgement and dismissed the case. This action has concluded.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.