WAYNE, Pa., Sept. 19, 2014 /PRNewswire/ -- Ryan & Maniskas, LLP announces that a class action lawsuit has been filed in United States District Court for the Eastern District of California on behalf of investors who purchased or otherwise acquired the common stock of Marrone Bio Innovations, Inc. ("Marrone Bio" or the "Company") (NASDAQ: MBII) during the period from March 7, 2014 through September 2, 2014 (the "Class Period").

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Marrone Bio shareholders may, no later than November 4, 2014, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of Marrone Bio and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/mbii. You may also email Mr. Maniskas at rmaniskas@rmclasslaw.com.

Marrone Bio provides pest management and plant health products. The Company purportedly assists customers around the globe with controlling pests, improving plant health, and increasing crop yields while reducing the environmental pesticide load, decreasing chemical residues on food, and fighting the development of pest resistance.

The Complaint brings forth claims for violations of the Securities Exchange Act of 1934. The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects.

Specifically, the Complaint alleges that throughout the Class Period, defendants disseminated false and misleading statements and failed to disclose: (1) the Company had improperly recognized revenue in violation of Generally Accepted Accounting Principles; (2) Marrone Bio's internal accounting controls were deficient and permitted the premature recognition of revenue, leading to materially misstated financial results; and (3) as a result of the foregoing, the Company's financial statements were materially false and misleading at all relevant times. As a result of defendants' false statements, Marrone Bio's stock traded at artificially inflated prices during the Class Period, with a high of $15.00 per share on March 7, 2014.

On September 3, 2014, the Company announced that its Audit Committee had "commenced an internal investigation after management learned of documents calling into question the recognition of revenue in the fourth quarter of 2013 for an $870,000 transaction." Marrone Bio also disclosed that the Audit Committee concluded that the Company's previously reported financial statements for the fiscal year ended December 31, 2013, the related report of the independent auditors on those 2013 financial statements dated March 25, 2014, and the unaudited interim financial statements for the quarters ended March 31, 2014 and June 30, 2014, should no longer be relied upon.

On this news, the Company's shares fell $2.50 or over 44%, from $5.65 on September 2, 2014, to close at $3.15 on September 3, 2014, on extremely high volume of 2.5 million shares traded, or 25 times the average daily trading volume during the Class Period.

If you are a member of the class, you may, no later than November 4, 2014, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.

Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.

CONTACT: Ryan & Maniskas, LLP
Richard A. Maniskas, Esquire
995 Old Eagle School Rd., Suite 311
Wayne, PA 19087
877-316-3218
rmaniskas@rmclasslaw.com
www.rmclasslaw.com/cases/mbii

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SOURCE Ryan & Maniskas, LLP