Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Danimer Scientific, Inc. (“Danimer”) (NYSE: DNMR) securities between October 5, 2020 and May 4, 2021, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the biodegradability and environmentally-friendly nature of its Nodax product was overstated and/or misstated; (2) the actual and planned production capacity of PHA was less than half of what was represented; (3) Danimer lacked effective controls over the accounting for certain financial instruments; and (4) as a result of the foregoing, Defendants’ statements about the company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
On September 30, 2023, the Court granted Defendants’ Motion to Dismiss. This action has concluded.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; 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.