Defendant Name: Zymergen Inc.

Defendant Type: Subsidiary of Public Company
Public Company Parent: Ginkgo Bioworks Holdings, Inc.
SIC Code: 6799
CUSIP: 37611X10

Initial Case Details

Legal Case Name In the Matter of Zymergen Inc.
First Document Date 13-Sep-2024
Initial Filing Format Administrative Action
File Number 3-22112
Allegation Type Issuer Reporting and Disclosure

Violations Alleged

Securities Act
• Sec 17(a)(2)
• Sec 17(a)(3)

Resolutions

First Resolution Date 13-Sep-2024
Headline Total Penalty and Disgorgement $30,000,000

Related Documents:

33-11303 13-Sep-2024 Administrative Proceeding
Order Instituting Cease-And-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933, Making Findings, And Imposing a Cease-And-Desist Order
On September 13, 2024, the SEC instituted cease-and-desist proceedings against Zymergen Inc., stating: "These proceedings arise from Zymergen's misrepresentations and omissions during and after its initial public offering ("IPO") in April 2021. Zymergen was a biotechnology company focused on the manufacture of novel materials, including optical films used in electronic screens. From at least March to August 2021, Zymergen misled investors about its lone developed product's market opportunity, revenue prospects, and customer pipeline."
2024-129 13-Sep-2024 Press Release--Administrative Proceeding
SEC Charges Zymergen Inc. With Misleading IPO Investors About Company's Market Potential and Sales Prospects
On September 13, 2024, the SEC "today announced settled charges against Zymergen Inc., an Emeryville, California-based biotechnology company, for misleading IPO investors about its overall market potential, revenue prospects, and customer pipeline for its only commercially available product, an electronics film named Hyaline. Zymergen raised approximately $530 million through its IPO in April 2021 and fi led for bankruptcy in 2023. Zymergen agreed to pay a $30 million civil penalty to resolve the SEC's charges."