STEVENSON, MD--(Marketwire -02/24/12)- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the District of Massachusetts on behalf of purchasers of the common stock of Metabolix, Inc. ("Metabolix" or the "Company") (NASDAQ: MBLX - News) during the period between March 10, 2010 and January 12, 2012, inclusive (the "Class Period").
If you have suffered a net loss for all transactions in Metabolix, Inc. common stock during the Class Period, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at email@example.com, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years.
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 no later than April 17, 2012 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the Company's failure to disclose during the Class Period that the Company's Telles joint venture would not meet its commercial phase benchmark as early as mid-2010, or even in 2011, which would allow the Metabolix to receive royalty payments and payments from services from Telles and that Mirel was not a commercially viable product that would offer value to Metabolix. According to the complaint, after, on January 12, 2012, the Company announced that ADM had given notice of termination of the Telles joint venture because uncertainty about projected capital and production costs, combined with the rate of market adoption, led to projected financial returns for ADM that were too uncertain, the value of Metabolix shares declined significantly.
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.