Biofuel Producer Slammed With Investor Suit

Law360, New York (August 21, 2013, 4:48 PM EDT) -- A renewable biofuels manufacturer was hit Tuesday with a proposed class action in Texas federal court alleging that it misled investors about its projected production levels of biofuel at a new facility and that it lacked adequate financial controls over its production level forecasts. 

The complaint, filed with the U.S. District Court for the Southern District of Texas, accused KiOR Inc., CEO Fred Cannon and Chief Financial Officer John. H. Karnes of violating several federal securities laws by lying to investors about the production capabilities of the company's...
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