Yahoo Finance HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Urges Danimer Scientific (DNMR) Investors with Losses To Contact Its Attorneys Now, Securities Fraud Case Filed
SAN FRANCISCO, May 17, 2021 (GLOBE NEWSWIRE) -- Hagens Berman urges Danimer Scientific, Inc. (NYSE: DNMR) investors with significant losses to submit your losses now.
Class Period: Dec. 30, 2020 - Mar. 19, 2021 | |
Lead Plaintiff Deadline: July 13, 2021 | |
Contact An Attorney Now: | |
844-916-0895 | |
Danimer Scientific, Inc. (NYSE: DNMR) Securities Fraud Action:
The complaint centers on Danimer’s alleged misrepresentations and omissions concerning its claims to be a leading producer of polyhydroxyalkanoate (“PHA”) – a biodegradeable alternative to petrochemical-based plastics, which the company sells under its proprietary Nodax® brand for usage in water bottles, straws, and food containers.
On Mar. 20, 2021, the Wall Street Journal questioned whether Nodax breaks down far more quickly than fossil-fuel plastics, finding “many claims about Nodax are exaggerated and misleading.” One plastics expert labeled Danimer’s claims about Nodax’s biodegradability as “not accurate” and as “greenwashing.”
This news sent the price of Danimer shares tumbling lower on Mar. 22, 2021.
After the class period, on Apr. 22, 2021 analyst Spruce Point Capital Management published a scathing report noting: red flags; various inconsistencies about Danimer’s historical and present claims about the size of its operations; Nodax’s® makeup and degradability; and the company’s expected profitability. Then, Spruce Point published a follow-up report on May 4, 2021 after acquiring documents from Kentucky’s Department of Environmental Protection and accused Danimer of “wildly overstating” production figures, pricing, and financial projections.
“We’re focused on investors’ losses and proving Danimer misled investors by greenwashing and misstating its true performance metrics,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you are a Danimer investor and have significant losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Danimer should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email DNMR@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact:
Reed Kathrein, 844-916-0895
