NEW YORK, Nov. 9, 2007 (PRIME NEWSWIRE) -- The Rosen Law Firm reminds current and former shareholders of Dyadic International, Inc. ("Dyadic" or the "Company") (AMEX:DIL) that they have until December 11, 2007 to move for appointment as lead plaintiff.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER.
If you purchased Dyadic securities during the period starting April 5, 2006 through April 23, 2007 or in the Company's Private Placement that closed on December 1, 2006, and wish to join the Dyadic securities litigation as a plaintiff, or for further information, go to the website at http://www.rosenlegal.com or call Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action.
The complaint asserts claims against Dyadic and certain of the Company's current and former officers and directors for violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The complaint alleges operational and financial improprieties perpetrated by the Company and its Asian subsidiaries, and knowingly and/or recklessly approved by the defendants, which culminated in an internal investigation and subsequent firing of the Company's Chairman and Chief Executive Officer Mark A. Emalfarb. As a result of the improprieties in the Company's Asian subsidiaries and the subsequent internal investigation, the Company has abandoned its Asian operations and the Company's stock, which was artificially inflated as a result of the material omissions and misstatements contained within the Company's publicly filed financial statements and reports, is no longer publicly traded and is at risk of being delisted, resulting in total loss of equity for owners of Dyadic's securities.
The Rosen Law Firm has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud. The Rosen Law Firm represents investors throughout the nation, concentrating its practice in securities class actions.
More information on this and other class actions can be found on the Class Action Newsline at www.primenewswire.com/ca