SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces the Commencement of an Investigation Involving Possible Securities Fraud V...
November 09 2016 - 10:49AM
Business Wire
Levi & Korsinsky announces it has commenced an investigation
of TerraVia Holdings, Inc. (“TerraVia” or the “Company”) (NASDAQ:
TVIA) concerning possible violations of federal securities laws by
certain officers and directors.
On November 7, 2016, Bloomberg published an article alleging
that Soylent, Rosa Foods, Inc.’s meal replacement drink, includes
an algal flour ingredient provided by TerraVia. This ingredient has
allegedly caused Soylent consumers to become sick and Rosa Foods
said it will remove the ingredient by early 2017. Though Mark
Brooks, TerraVia’s Senior Vice President, denied that the Company’s
algal flour was responsible for making consumers sick, Bloomberg
added that TerraVia had sent a letter in July to EN-R-G Foods, LLC,
a separate customer, warning that TerraVia’s algal protein
ingredient had been linked to a “modest number of reports” with
similar complaints and ailments, like nausea and vomiting,
connected with EN-R-G’s Honey Stinger energy bar. Following this
news, TerraVia stock dropped $0.15 per share, or 8.11%, to close at
$1.70 on November 7, 2016. To obtain additional information about
the investigation, go to:
http://zlk.9nl.com/terravia-holdings-tvia
or contact Joseph E. Levi, Esq. either via email at
jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877)
363-5972.
Levi & Korsinsky is a national firm with offices in New
York, New Jersey, Connecticut and Washington D.C. The firm’s
attorneys have extensive expertise in prosecuting securities
litigation involving financial fraud, representing investors
throughout the nation in securities and shareholder lawsuits.
Attorney advertising. Prior results do not guarantee similar
outcomes.
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Levi & Korsinsky, LLPJoseph E. Levi, Esq.Tel:
212-363-7500Toll Free: 877-363-5972Fax: 212-363-7171www.zlk.com