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Bondurant Brings New Securities Class Action

May 21, 2021
Atlanta, GA, United States

Bondurant Mixson & Elmore LLP, along with Bernstein Litowitz Berger & Grossmann LLP, has filed a class action lawsuit for violations of the federal securities laws in the U.S. District Court for the Middle District of Georgia against Danimer Scientific, Inc., maker of the bioplastic Nodax. 

The suit brought on behalf of investors alleges Danimer misled investors regarding the biodegradability of Nodax, demand for Nodax, and Nodax’s average selling price.

The complaint alleges that, throughout the Class Period of December 30, 2020 through May 3, 2021, Defendants made false and misleading statements regarding Nodax’s environmental benefits, its viability as a fully biodegradable alternative to conventional plastic, the level of demand for Nodax, and Nodax’s selling price.  As a result of Defendants’ misrepresentations, shares of Danimer common stock traded at artificially inflated prices during the Class Period.

The case is captioned Caballero v. Danimer Scientific, Inc., No. 1:21-cv-00095-LAG (M.D. Ga.), and was filed by Bondurant attorneys Mickey Mixson, Amanda Kay Seals, and Jennifer Peterson. 

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