STEVENSON, Md., Sept. 12, 2014 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the District of New Jersey on behalf of purchasers of Enzymotec Ltd. ("Enzymotec" or the "Company") (Nasdaq:ENZY) securities pursuant and/or traceable to the Company's Registration Statement and Prospectus ("Offering Documents") issued in connection with the Company's initial public offering on or about September 27, 2013, and/or on the open market between September 27, 2013 and August 4, 2014, inclusive (the "Class Period").
If you have suffered a loss from investment in Enzymotec securities purchased on or after September 27, 2013 and held through the revelation of negative information during and/or at the end of the Class Period, as described below, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html. You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616. No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than November 4, 2014 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company units during the Class Period. Brower Piven also encourages anyone with information regarding the Company's conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 and the Securities Act of 1933 by virtue of the defendants' failure to disclose in the Offering Documents and during the Class Period that Enzymotec's Chinese business was subject to material and readily identifiable compliance regulations from the Chinese government, that the Company's baby formula business in China was jeopardized and subject to increased volatility and decreased revenues and that the Company's joint venture with AarhusKarlshamn AB, which marketed the popular InFat product, was crumbling and subjected the Company to liability and decreased revenues. According to the complaint, following the Company's May 14, 2014 announcement that "Chinese regulations require infant formula manufacturers to make certain changes to their production chain," and as a result the Company's revenues were lower, and its August 5, 2014 disclosure of the increased impact of the Chinese regulations on its sales of infant formula and of its financial results that were significantly lower than the prior year in almost all respects, the value of Enzymotec's shares declined significantly.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.