NEW YORK, Sept. 8, 2014 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed in the United States District Court, Eastern District of California on behalf of all persons who acquired the securities of Marrone Bio Innovations, Inc. ("Marrone" or the "Company") (Nasdaq:MBII) during the period between and including March 6, 2014 and September 2, 2014, (the "Class Period") including those who purchased shares in the Company's initial public offering pursuant to the Registration Statement and Prospectuses ("Offering Documents"). This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act").
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) Marrone's financial statements contained errors concerning the improper recognition of revenues; (2) the Company lacked adequate internal controls over financial reporting; and (3) as a result of the foregoing, the Company's financial statements were materially false and misleading during the relevant time.
If you wish to serve as lead plaintiff, you must move the Court no later than November 4, 2014. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
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