Thieler Law Corp advises investors with losses exceeding $100,000 of the August 24, 2015 lead plaintiff deadline in a class action lawsuit filed against Solazyme Inc (NASDAQ: SZYM) (“Solazyme” or “the Company”). The suit is pending in the U.S. District Court for the Northern District of California and investors, who purchased Solazyme securities between February 27, 2014 and November 5, 2014, have until August 24, 2015 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Solazyme securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 866-6157 or emailing mail@thielerlaw.com.  No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that Solazyme misstated and/or failed or disclose unfavorable news about its new renewable oils production facility in Moema, Brazil. Solazyme did not report that the Moema Facility suffered construction delays due to a lack of availability of electricity and steam utilities. As a result, the lawsuit claims that the Company was not able to increase output to its previously projected levels. Therefore due to the lack of these disclosures, when the facts were revealed, the complaint asserts that Solazyme’s share price declined and investors suffered damages.

On November 5, 2014, the truth about Solazyme’s cover-up concerning the delays at the Moema Facility began to be revealed when the Company announced that it would “narrow [its] production focus to smaller volumes of higher value products” due to continued issues generating consistent power and steam.  After the release of this news, NASDAQ: SZYM stock price declined $4.35 per share, or 58.08 percent, to close at $3.14 per share following the next trading session on November 6, 2014.

If you were negatively impacted by your investment in Solazyme securities between February 27, 2014 and November 5, 2014and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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