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SHAREHOLDER ALERT: Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in Solazyme, Inc. to Contact Brower Piven Before the Lead Plaintiff Deadline in Class Action Lawsuit – SZYM

20:00 EDT 19 Jul 2015 | Globe Newswire

STEVENSON, Md., July 20, 2015 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of purchasers of Solazyme, Inc. (“Solazyme” or the “Company”) (Nasdaq:SZYM) securities during the period between February 27, 2014 and November 5, 2014, inclusive (the “Class Period”), including certain securities issued by Solazyme pursuant and/or traceable to either of two registered public offerings on or about March 27, 2014 (the “Offerings”).  Investors who wish to become proactively involved in the litigation have until August 24, 2015 to seek appointment as lead plaintiff.

If you have suffered a loss from investment in Solazyme securities purchased on or after February 27, 2014 and held through the revelation of negative information during and/or at the end of the Class Period, as described below, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html.  You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616.  No class has yet been certified in the above action.  Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff.

If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court.  The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action.  The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company securities during the Class Period.  Brower Piven also encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 and the Securities Act of 1933 by virtue of the defendants’ failure to disclose during the Class Period and/or in connection with the Offerings the truth regarding the construction progress, development, and expected production capacity associated with the Company’s renewable oils production facility located in Moema, Brazil (the “Moema Facility”).

According to the complaint, following the Company’s November 5, 2014 announcement that it would focus production at the Moema Facility to smaller volumes of higher value products due to continued issues generating consistent power and steam, the value of Solazyme’s shares declined significantly.

Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.  If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice.  You need take no action at this time to be a member of the class.

CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
hoffman@browerpiven.com
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