NEW YORK, Oct. 11, 2013 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in KiOR, Inc. ("KiOR" or the "Company") (Nasdaq:KIOR) of the October 21, 2013 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain executives.
A complaint has been filed on behalf of all persons who purchased or otherwise acquired KiOR securities between August 14, 2012 and August 7, 2013 (the "Class Period").
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning business, operational, and compliance policies.
Specifically, the action alleges that throughout the Class Period the Company made false and/or misleading statements and/or failed to disclose that: (i) KiOR was not on track to produce commercially meaningful quantities of biofuel and (ii) KiOR had inadequate internal controls over production level calculations and forecasting at its Columbus, Mississippi facility.
On August 8, 2013, KiOR announced that it shipped over 75,000 gallons of cellulosic fuel from the Columbus facility, contrasting with its May 2013 estimation of 300,000 to 500,000 gallons. Following this news, the Company's stock declined from a close of $4.72 per share on August 7, 2013 to a close of $3.67 on August 12, 2013.
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Take Action
If you invested in KiOR stock or options between August 14, 2012 and August 7, 2013 and would like to discuss your legal rights, visit www.faruqilaw.com/KIOR. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com or fmcconville@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding KiOR's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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