NEW ORLEANS, March 3, 2023 /PRNewswire/ — Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Danimer Scientific, Inc. (the “Company”) (NYSE: DNMR).
Since 2020, the Company has sold polyhydroxyalkanoates (“PHAs”) under the “Nodax” brand name for a wide variety of plastic applications, which it represented as a “100% biodegradable, renewable, and sustainable plastic . . . certified as marine degradable, the highest standard of biodegradability, which verifies the material will fully degrade in ocean water without leaving behind harmful microplastics.” However, in March to May 2021, various news media outlets reported that the Company’s claims regarding Nodax were exaggerated and misleading and that its production figures, pricing, and financial projections were overstated.
The Company has been sued in a securities class action lawsuit for failing to disclose material information during the class period, violating federal securities laws, which remains pending.
KSF’s investigation is focusing on whether Danimer’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Danimer shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-dnmr/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 960
New Orleans, LA 70163
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SOURCE Kahn Swick & Foti, LLC