Philadelphia, Pennsylvania–(Newsfile Corp. – May 21, 2021) – Berger Montague is investigating potential securities fraud claims against Emergent BioSolutions Inc. (“Emergent” or the “Company”) on behalf of Emergent investors who purchased securities (NYSE: EBS) between April 24, 2020 and April 16, 2021 (the “Class Period”).
If you purchased Emergent securities during the Class Period and would like to discuss Berger Montague’s investigation, please contact attorneys Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Donnell Much at dmuch@bm.net or (215) 875-4667, or contact us at www.bergermontague.com/emergent.
Emergent is a biopharmaceutical company that develops vaccines for infectious diseases. According to a recent lawsuit, the Company and senior management failed to disclose a history of manufacturing issues and quality control deficiencies at Emergent’s Baltimore facility, and that longstanding contamination risks had resulted in a string of citations by the Food and Drug Administration.
On March 31, 2021, media reports revealed that Emergent “mixed up” ingredients for the Johnson & Johnson and AstraZeneca COVID-19 vaccines, which resulted in up to 15 million doses of J&J’s vaccine being contaminated and rendered unusable. On this news, shares declined $14.29 – approximately 15% – over the next two trading days, from a closing price of $92.91 on March 31 to $78.62 on April 5.
On April 19, 2021, the Company disclosed that, at the FDA’s behest, Emergent had agreed not to initiate the manufacturing of any new material at its Bayview facility and to quarantine existing materials pending an FDA inspection and remediation. On this news, shares fell $9.77, more than 12%, from a closing price of $77.64 per share on April 16, 2021 to $67.87 on April 19, 2021.
If you purchased Emergent securities during the Class Period, you may seek Court appointment as lead plaintiff to represent other injured investors in a class action. The lead plaintiff appointment deadline is June 18, 2021. You do not need to be a lead plaintiff to share in any potential Class recovery.
Whistleblowers: Persons with non-public information regarding Emergent are encouraged to confidentially assist Berger Montague’s investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.
Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
