Investor alert: investigation of marrone bio innovations, inc.
announced by glancy binkow & goldberg llp
Los angeles--(business wire)--glancy binkow & goldberg llp announces that it is investigating potential claims on behalf of investors of marrone bio innovations, inc. (“marrone” or the “company”) (nasdaq:mbii) concerning possible violations of federal securities laws. the investigation focuses on the company’s operations and financial performance. please contact lesley portnoy at (888) 773-9224 or (310) 201-9150, or at shareholders@glancylaw.com to discuss this matter. if you inquire by email please include your mailing address, telephone number and number of shares purchased. marrone provides bio-based pest management and plant health products for crop protection, water treatment and other target markets in the united states and internationally. the investigation is related to the company’s disclosure, in a form 8-k filed september 3, 2014, with the securities and exchange commission, that the audit committee of the company’s board of directors has commenced an internal investigation “after learning of documents calling into question the recognition of revenue in the fourth quarter of 2013 for an $870,000 transaction.” the company further disclosed that on september 2, 2014, the audit committee concluded that marrone’s previously reported financial statements as of december 31, 2013, and for the fiscal year ended december 31, 2013, included in the company’s annual report on form 10-k for the year ended december 31, 2013; the related report of the independent auditors on those 2013 financial statements dated march 25, 2014; and the unaudited interim financial statements included in the company’s quarterly reports on forms 10-q for the quarters ended march 31, 2014, and june 30, 2014, “should no longer be relied upon.” following these disclosures, the price of marrone shares dropped more than 44%, or $2.50 per share, to a closing price of $3.15 per share on september 3, 2014. if you purchased marrone shares, if you have information or would like to learn more about these claims and have any questions concerning this announcement or your rights or interests with respect to these matters, please contact lesley portnoy, esquire, of glancy binkow & goldberg llp, 1925 century park east, suite 2100, los angeles, california 90067, by toll-free telephone at (888) 773-9224 or by telephone at (310) 201-9150, by e-mail to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com. if you inquire by email, please include your mailing address, telephone number and number of shares purchased. this press release may be considered attorney advertising in some jurisdictions under the applicable law and ethical rules.
