Renewable Energy Co. Says Latest Derivative Suit Falls Short
Law360 (September 3, 2019, 6:00 PM EDT) -- The directors of renewable energy company Amyris Inc. have claimed that the latest derivative action brought by shareholder Wayne Bonner in California federal court should — like his first two complaints — be dismissed.
The Amyris board said Friday that Bonner, who alleges that the directors allowed Amyris to grossly overestimate future revenues in 2018, has again fallen short of the requirement that he either take his concerns to the board before filing suit or demonstrate why the board would not have been able to consider the concerns impartially.
“Although in this latest complaint Bonner now challenges a new transaction, Amyris’...
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