LAWSUIT ALERT REMINDER: The Law Firm of Andrews & Springer LLC Announces That a Securities Fraud Class Action Has Been Filed Against Solazyme - SZYM

WILMINGTON, Del., Aug. 21, 2015 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, announced today that a securities fraud class action lawsuit has been filed in the U.S. District Court, Northern District of California, on behalf of investors of Solazyme, Inc. SZYM ("Solazyme" or the "Company") that held shares between February 27, 2014 and November 5, 2014 (the "Class Period"). If you purchased Solazyme securities during the Class Period, you may, no later than August 24, 2015, request that the Court appoint you lead plaintiff of the proposed class.

A copy of the complaint is available from the Court or from Andrews & Springer LLC. If you would like to join the class action, please visit our website or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.

According to the lawsuit, during the Class Period, Solazyme made false and misleading statements about the construction progress, development, and expected production capacity associated with the Company's renewable oils production facility located in Moema, Brazil (the "Moema Facility").  Solazyme executives caused Solazyme securities to trade at artificially inflated prices by improperly concealing ongoing construction delays due to insufficient access to electricity and steam utility services.  These challenges would prohibit the Moema Facility from scaling its capacity production as projected. The lawsuit further alleges that certain Defendants made false and misleading statements and failed to disclose material adverse information in offering documents filed with the U.S. Securities and Exchange Commission in connection with the issuance of (i) approximately $149.5 million in convertible notes on or about March 27, 2014, and (ii) 5.75 million shares of common stock on the same day at $11.00 per share for aggregate gross proceeds of approximately $63.25 million.

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.

As a result of this news, Solazyme's stock price fell 58%, wiping out hundreds of millions of its market value.

If you wish to serve as lead plaintiff, you must move the Court no later than August 24, 2015. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.

Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.