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The SEC has charged Zymergen Inc., a synthetic biology company, with misleading investors ahead of its $3 billion IPO. The charges include providing false information about its market potential, revenue prospects, and customer pipeline for its only commercially available product, an electronics film named Hyaline. Zymergen has agreed to settle the charges by paying a $30 million penalty. The SEC's involvement underscores the seriousness of the allegations.
Incredible scoop from my colleague @RebeccaBellan on how TuSimple, once a rising star in the autonomous driving landscape, fell apart amid US-China tensions, company infighting, and a series of legal troubles. An absolute honor to have worked on it👇 https://t.co/0MYLkulq7Z
Boom-and-bust Zymergen misled IPO investors, agrees to $30M penalty, SEC says https://t.co/ZrYs05y7eH
The MOTHER of all mobility startup pivots with 9 figures on the line. Followed them early and knew some folks at the company, knew there was trouble brewing in the early days. It’s almost comical now what’s happening. But investors want their money back. https://t.co/HNSU52u3pi