Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until July 13, 2021 to file lead plaintiff applications in a securities class action lawsuit against Danimer Scientific, Inc. (NYSE: DNMR), if they purchased the Company’s securities between December 30, 2020 and March 19, 2021, inclusive (the “Class Period”). This action is pending in the United States District Court for the Eastern District of New York.
What You May Do
If you purchased securities of Danimer and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-dnmr/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by July 13, 2021.
About the Lawsuit
Danimer and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 20, 2021, the Wall Street Journal reported that, according to several experts on biodegradable plastics, the Company’s claims that its product Nodax breaks down far more quickly than fossil-fuel plastics were “exaggerated and misleading.” While the Company reportedly asserts that its claims are factual, the article cited at least one expert as stating that making broad claims about Nodax's biodegradability “is not accurate” and is “greenwashing.”
On this news, shares of Danimer plummeted 12.87%, or $6.43 per share, to close at $43.55 per share on March 22, 2021, the first trading day following the publication.
The case is Rosencrants v. Danimer Scientific, Inc., et al., 21cv2708.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210517006022/en/
Contacts
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
