ROSELAND, NJ--(Marketwired - April 08, 2016) - Co-Lead Counsel in the securities class action lawsuit pending in the District of New Jersey, which was filed in September 2014, provide this update to purchasers of Enzymotec Ltd.'s ("Enzymotec") common stock during the Class Period between September 27, 2013 and August 4, 2014, inclusive, and also to purchasers of Enzymotec shares pursuant and/or traceable to the Company's initial public offering of its common stock (the "IPO") on or about September 27, 2013 and the Company's secondary public offering ("SPO") on or about February 27, 2014.
The lawsuit, In re Enzymotec Ltd. Securities Litigation, Case No. 2:14-cv-05556, alleges violations of the Securities Exchange Act of 1934 and the Securities Act of 1933 against Enzymotec and several of its executives and directors, and has been assigned to United States District Judge John Michael Vazquez. A copy of the Amended Class Action Complaint for Violations of the Federal Securities Laws filed by Co-Lead Counsel is available on Saxena White's website at www.saxenawhite.com.
In its December 14, 2015 Order denying in part Defendants' motion to dismiss, the Court stated that determining whether Lead Plaintiffs have standing to represent claims in connection with the SPO is an issue "to be resolved through discovery, as to whether plaintiffs can demonstrate that the shares they allegedly purchased are in fact traceable to the registration statement alleged to be false and misleading." In their motion to dismiss, Defendants' argued, and are expected to continue arguing, that "because there were already Enzymotec shares available in the market," Plaintiffs' claims in connection with the SPO should fail because Plaintiffs did not "purchase  shares on the date that the secondary offering went effective  at the price at which shares were offered in the secondary offering."
If Defendants are successful in their standing argument, certain class members may not be able to recover their losses stemming from their purchases of Enzymotec securities in the SPO. If you purchased Enzymotec common stock directly in the IPO and/or SPO and suffered losses in connection therewith, you may qualify to serve as a representative plaintiff in this action.
If you wish to discuss this action or have any questions concerning your rights or interests with respect to these matters, please contact Donald A. Ecklund (973-994-1700) at Carella, Byrne, Cecchi, Olstein, Brody & Agnello, P.C., Lester R. Hooker (561-206-6708) at Saxena White P.A., or Richard A. Maniskas (484-588-5516) at Ryan & Maniskas LLP.
Based in Roseland, New Jersey and assisting clients nationwide, the law firm of Carella, Byrne, Cecchi, Olstein, Brody & Agnello, P.C. provides services in litigation, intellectual property, transactional, administrative, government and public policy, health care, bond counseling, environmental, bankruptcy, and class action matters.
Saxena White P.A., located in Boca Raton, focuses its practice in prosecuting securities fraud and complex class actions on behalf of institutions and individuals. Currently serving as lead counsel in numerous securities fraud class actions nationwide, the firm has recovered hundreds of millions of dollars on behalf of injured investors and is active in major litigation pending in federal and state courts throughout the United States.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
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Donald A. Ecklund
Carella, Byrne, Cecchi, Olstein, Brody & Agnello P.C.
5 Becker Farm Road
Roseland, New Jersey 07068
Tel: (973) 994-1700
Fax: (973) 994-1744
Lester R. Hooker, Esq.
Saxena White P.A.
5200 Town Center Circle, Suite 601
Boca Raton, FL 33486
Tel: (561) 206-6708
Fax: (866) 290-1291
Richard A. Maniskas
Ryan & Maniskas, LLP
995 Old Eagle School Rd., St. 311
Wayne, Pennsylvania 19087
Tel: (484) 588-5516
Fax: (484) 450-2582