|[September 04, 2014]
SHAREHOLDER ALERT: Investigation on Behalf of Marrone Bio Innovations, Inc. Announced by Law Offices of Howard G. Smith
BENSALEM, Pa. --(Business Wire)--
Offices of Howard G. Smith 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
certain statements issued by Marrone concerning the Company's operations
and financial performance. Marrone provides bio-based pest management
and plant health products for the crop protection, water treatment, and
other target markets in the United States and internationally.
The investigation is related to the Company's September 3, 2014,
disclosure in a regulatory filing that he 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 Form 10-K for the year ended December 31,
2013; the related report of the independent auditors on those 2013
financial statements; and the unaudited interim financial statements
included in the Company's 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, or if you have any questions
concerning this announcement or your rights or interests with respect to
these matters, please contact Howard G. Smith, Esquire, of Law Offices
of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania
19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by
email to firstname.lastname@example.org,
or visit our website at www.howardsmithlaw.com.
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