The chief executive officer of clean technology start-up KiOR Inc. received mixed results May 4 on his bid to dismiss investor allegations that he made false and misleading statements about the company’s production capabilities and projected future yields (Carlton v. Cannon, 2016 BL 143413, S.D. Tex., 4:15-cv-00012, 5/4/16).
Fred Cannon’s statements about the operability of a Mississippi-based commercial scale plant are actionable, Judge Lee H. Rosenthal of the U.S. District Court for the Southern District of Texas said. However, the court dismissed claims over statements Cannon made about a Houston demonstration unit and future yields.
The company, ...
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