Amyris Execs Targeted In $21M Insider Trading Suit

Law360, New York (August 12, 2013, 2:31 PM EDT) -- California renewable energy company Amyris Inc. was hit with a derivative suit Thursday alleging that its executives misled investors about the production of a chemical used in transportation fuels to artificially inflate stock prices that eventually tanked and to engage in $21 million worth of insider trading.

The suit, filed in California federal court by shareholder Steve Shannon, names Amyris executives including CEO and President John Melo, who allegedly misrepresented the health of Biofene production in order to artificially inflate stock prices, which hit a high...
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