TerraVia (TVIA) Algal Flour Issues Settlement
TerraVia (TVIA) agreed to settle $2.5M with shareholders to end claims over the algal flour issues.
Case Details:
On November 7, 2016, Bloomberg reported that an algal flour ingredient from TerraVia caused digestive issues in Soylent, a meal replacement drink by Rosa Foods.
Despite TerraVia's denial, Bloomberg revealed a warning letter to a Honey Stinger distributor about similar problems linked to algal protein.
Following this news, $TVIA dropped by 8%, causing harm to investors.
Based on these events, TerraVia was accused of neglecting to reveal the following details:
TerraVia's algal flour caused stomach problems, making it less competitive in the nutrition foods market.
TerraVia is said to have exaggerated how well its algal flour would sell, resulting in false statements to the public.
TerraVia has now decided to end these allegations and pay a $2.5M settlement.
Frequently Asked Questions
All persons who purchased or otherwise acquired the common stock of TerraVia Holdings, Inc. between May 4, 2016, and November 6, 2016, both dates inclusive.
No, if you have purchased securities within the class period, you are eligible to participate.
You can participate in the settlement and retain (or sell) your securities.
The entire process usually takes 4 to 9 months after the claim deadline. But the exact timing depends on the court and settlement administration.
11thestate is an investor recovery company, we help investors to track and collect securities class action settlements. We will:
Prepare documents for your payout
Audit the claim and make sure you get the maximum possible payout
File a claim with the settlement administration
Correspond with the settlement administration to resolve emerging issues
Deliver payout directly to your brokerage account
There is no upfront cost, but we will deduct 20% of the recovered amount as a commission for our services.