[USA] Levi & Korsinsky announces it has commenced an investigation of TerraVia Holdings, Inc. (“TerraVia” or the “Company”) (NASDAQ: TVIA) concerning possible violations of federal securities laws by certain officers and directors.
On November 7, 2016, Bloomberg published an article alleging that Soylent, Rosa Foods, Inc.’s meal replacement drink, includes an algal flour ingredient provided by TerraVia. This ingredient has allegedly caused Soylent consumers to become sick and Rosa Foods said it will remove the ingredient by early 2017. Though Mark Brooks, TerraVia’s Senior Vice President, denied that the Company’s algal flour was responsible for making consumers sick, Bloomberg added that TerraVia had sent a letter in July to EN-R-G Foods, LLC, a separate customer, warning that TerraVia’s algal protein ingredient had been linked to a “modest number of reports” with similar complaints and ailments, like nausea and vomiting, connected with EN-R-G’s Honey Stinger energy bar. Following this news, TerraVia stock dropped $0.15 per share, or 8.11%, to close at $1.70 on November 7, 2016. To obtain additional information about the investigation, go to:
or contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
View original article at: Levi & Korsinsky, LLP announces the commencement of an investigation involving possible securities fraud violations by certain officers and directors of TerraVia Holdings, Inc.