Defendant Name:
Zymergen Inc.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Ginkgo Bioworks Holdings, Inc.
SIC Code:
6799
CUSIP:
37611X10
Document Reference:
33-11303
Document Details
Legal Case Name
In the Matter of Zymergen Inc.
Document Name
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
Document Date
13-Sep-2024
Document Format
Administrative Proceeding
Allegation Type
Issuer Reporting and Disclosure
Document Summary
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."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Other Undertakings: "Zymergen . . . shall . . . continue to cooperate fully with the Commission with respect to this action and to any related judicial proceeding, administrative proceeding, or investigation commenced by the Commission or to which the Commission is a party, subject to compliance with applicable law."
Cooperation Before the Resolution
Fair Funds
Monetary Penalties:
Civil Penalty
Individual:
$30,000,000.00
Shared:
