Levi & Korsinsky announces the commencement of a class action lawsuit in the USDC for the Northern District of California on behalf of shareholders of TerraVia Holdings, Inc. (NASDAQ: TVIA) who purchased shares between March 13, 2013 and November 4, 2016.
The complaint alleges that TerraVia made false and/or misleading statements and/or failed to disclose: (1) that the Company’s products caused gastrointestinal distress, such as nausea and vomiting; and (2) as a result, statements about TerraVia’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis at all relevant times.
On November 7, 2016, Bloomberg published an article alleging that an algal flour ingredient provided by TerraVia causes consumers to become sick, and that Rosa Foods will be removing the ingredient altogether from its product formulations by early 2017. When this information was released, shares of TerraVia declined in value, causing investors harm.
If you suffered a loss in TerraVia you have until January 17, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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