Marrone Bio Innovations Sued For Securities Fraud From August 2, 2013 IPO through September 2, 2014 Block & Leviton LLP Announces

BOSTON, Sept. 16, 2014 /PRNewswire/ -- Block & Leviton has filed an expanded class action against Marrone Bio Innovations, Inc. ("Marrone" or the "Company") (NASDAQ:  MBII) alleging that it has misled investors since its IPO on August 2, 2013.  The Complaint charges that investors have been misled with regard to its reported financial statements and earnings as well as to the commercial viability of certain of its products.  The Complaint further alleges that certain Marrone senior executives, who have since left the Company, sold either all or a majority of their Marrone stock immediately upon on the expiration of Marrone's IPO lock-up provisions. 

On September 3, 2014, MBII stated that it uncovered issues with its accounting and concluded that its financial statements for the fiscal year ended December 31, 2013, the unaudited interim financial statements for the three month period ended March 31, 2014, and the three and six month periods ended June 30, 2014, should no longer be relied upon as being in compliance with GAAP.  The September 3 press release noted that the Company's Audit Committee had "commenced an internal investigation" after management had reason to call into question MBII's revenue recognition policies.

Marrone's stock price plunged by 44% between Tuesday, September 2, 2014, and September 3, 2014.  The Company went public in August 2013, at a price of $12 per share.

If you wish to serve as a lead plaintiff, you must move the Court no later than November 4, 2014.  As a member of the class, you may seek to file a motion to serve as a lead plaintiff or take no action and remain an absent class member.  If you have questions about your legal rights, or if you have information relevant to this lawsuit, please contact attorney Steven Harte of Block & Leviton LLP, www.blockesq.com, at (617) 398-5600 or at [email protected].  Confidentiality to whistleblowers or others with information relevant to the lawsuit is assured.

Block & Leviton's lawyers have collectively been prosecuting securities cases on behalf of investors for over 70 years and have achieved significant recoveries for clients.  Please visit www.blockesq.com for more information about the firm.

This notice may constitute attorney advertising.       
Contact:         
BLOCK & LEVITON LLP

Steven Harte
(617) 398-5600
[email protected]

SOURCE Block & Leviton LLP

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