NEW YORK, April 07, 2021 (GLOBE NEWSWIRE) — Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, is investigating claims of violations of federal securities laws on behalf of investors of Danimer Scientific (“DNMR” or the “Company”) (NYSE: DNMR).
On March 20, 2021, The Wall Street Journal published an article entitled “Plastic Straws That Quickly Biodegrade in the Ocean, Not Quite, Scientists Say” concerning, among other things, Danimer’s claims that Nodax – a plant-based plastic that Danimer markets – breaks down far more quickly than fossil-fuel plastics. The Wall Street Journal article alleges that according to several experts on biodegradable plastics, “many claims about Nodax are exaggerated and misleading.” Danimer reportedly says its claims are factual, but at least one expert is cited as stating that making broad claims about Nodax’s biodegradability “is not accurate” and is “greenwashing.”
On March 22, 2021, the first trading day following the publication of The Wall Street Journal article concerning potentially inflated claims about Nodax, Danimer’s shares fell $6.43 per share, about 13%, to close at $43.55 per share.
If you are a shareholder of Danimer, and wish to participate, learn more, or discuss the issues surrounding the investigation, please contact our attorneys at (914) 733-7256 or via email at [email protected].
Whistleblowers: Persons with non-public information regarding Danimer should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.
Lowey Dannenberg P.C.
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White Plains, NY 10601
Tel: (914) 733-7256
Email: [email protected]