Defendant Name: Zymergen Inc.

Defendant Type: Subsidiary of Public Company

Document Reference: 2024-129

Document Details

Legal Case Name In the Matter of Zymergen Inc.
Document Name SEC Charges Zymergen Inc. With Misleading IPO Investors About Company's Market Potential and Sales Prospects
Document Date 13-Sep-2024
Document Format Administrative Proceeding
File Number 3-22112
Allegation Type Issuer Reporting and Disclosure
Document Summary 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."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Monetary Penalties:

Civil Penalty

Individual:     $30,000,000.00 Shared:    

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."