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TerraVia Holdings, Inc. (TVIA)

NASDAQ:TVIA

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In TerraVia Holdings, Inc. To Contact The Firm Before Lead Plaintiff Deadline

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in TerraVia Holdings, Inc. (“TerraVia” or the “Company”) (NASDAQ:TVIA) of the January 17, 2017 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.

The lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all those who purchased TerraVia stock or options between August 8, 2016 and November 7, 2016 (the “Class Period”).  The case, Perales v. TerraVia Holdings, Inc. et al, No. 16-cv-06633 was filed on November 16, 2016.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose that its algae products could potentially cause illness to costumers.

Specifically, on November 7, 2016, Bloomberg reported that TerraVia sent a letter to a distributor in July 2016 warning that TerraVia had received reports showing that algal protein in Soylent products can cause gastrointestinal distress. Mark Brooks, senior vice president at TerraVia, said that whole algal flour is safe and that Soylent products contain several known irritants, such as soy protein isolate and glycerin, which can cause symptoms similar to those reported by the startup’s customers. 

On this news, TerraVia’s share price fell from $1.85 per share on November 6, 2016 to a closing price of $1.70 on November 7, 2016—a $0.15 or an 8.1% drop.

Take Action

If you invested in TerraVia stock or options between August 8, 2016 and November 7, 2016 and would like to discuss your legal rights, please fill out the form below. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.  Faruqi & Faruqi, LLP also encourages anyone with information regarding TerraVia’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Request Information

Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.

  • Case:
    TerraVia Holdings, Inc. (TVIA)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 11/17/2016

Send Information

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