Why Amyris Shares Dropped 26% Today

Shares of industrial biotechnology company Amyris (NASDAQ: AMRS) plummeted as much as 30% today after it was accused in a lawsuit of patent infringement and trade secret misappropriation. Shares closed the session down 26%. 

Privately held cannabinoid company, LAVVAN, said in its lawsuit that Amyris is using intellectual property (IP) licensed solely to LAVVAN and has misappropriated LAVVAN's trade secrets. 

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Source Fool.com