Pennsylvania

Kessler Topaz Meltzer & Check, LLP: Alerting Investors About Securities Fraud Class Actions Filed Against Emergent BioSolutions Inc. | Status

Radnor, Pennsylvania May 28, 2021 / PRNewswire / –Kessler Topaz Meltzer & Check, LLP law firm, Kessler Topaz Meltzer & Check, LLP securities on behalf of investors to Emergent BioSolutions Inc. (NYSE: EBS) (“Emergent”) Announced that it has filed a fraudulent class action.Person who purchased or acquired Emergent common stock Between April 24, 2020,and April 16, 2021, Comprehensive (“class period”).This action, with caption Roth v. Emergent BioSolutions Inc., et al., Case number 1: 21-cv-01189-PX (“Loss Action “), submitted to USA District court Maryland (Southern division).To view a copy of Loss Action claim, Please click here.

There is one related class action pending against Emergent. USA District court Maryland By the notification published in (Southern Division) and its actions June 18, 2021, Investors who purchase Emergent common stock seek to be nominated as representatives of the plaintiffs’ group. Submission of Loss action does not change Is June 18, 2021 Deadline for the main plaintiff..

Emergent is a specialized biopharmacy company that develops vaccines and antibody treatments for infectious diseases. In response to the new coronavirus (SARS-CoV-2) causing a pandemic of COVID-19 disease (“COVID-19”), Emergent was with Johnson & Johnson (“J & J”) and AstraZeneca. I signed a series of contracts. $ 876 million We provide contract development and manufacturing organization services for manufacturing corporate COVID-19 vaccine candidates.

Start date of class period April 24, 2020The day after Emergent announced that it had signed a contract with J & J to manufacture J & J’s COVID-19 vaccine candidate at Emergent’s. Baltimore Facility. Under this agreement, Emergent will provide API manufacturing services and secure J & J with large-scale manufacturing capacity. Then June 11, 2020 Emergent has announced that it has signed another contract to provide contract development and manufacturing services and ensure large-scale manufacturing capacity to support AstraZeneca’s COVID-19 vaccine candidate.

The truth of Emergent has begun to be revealed March 31, 2021 When after the end of the market Is New York Times Emergent’s publishes an article reporting accidental contamination of the COVID-19 vaccine developed by J & J and AstraZeneca Baltimore Facility. Is New York Times The article mentioned it later February 2021, Emergency employee Baltimore The facility confused the ingredients of two different COVID-19 vaccines, contaminated up to 15 million doses of J & J vaccine, and forced regulators to delay approval of the facility’s production line. Also,”[f]Further shipments of Johnson & Johnson vaccines — a total of 24 million doses scheduled for next month — Baltimore“But”[t]Hose delivery is an issue while quality control issues are being resolved. ”

next morning, April 1, 2021, Associated Press Based on documents obtained through the Information Disclosure Act, the Food and Drug Administration (“FDA”) has addressed issues such as poorly trained employees, broken vials, mold and other pollution control issues. He reported that he had repeatedly quoted “Emergency”. One of the facilities. After this news, Emergent’s share price fell sharply from its closing price. $ 92.91 Per share March 31, 2021, To $ 80.46 Per share at the end of the transaction April 1, 2021, A drop $ 12.45, Or 13% or more per share.

Then April 19, 2021“At the FDA’s request, Emergent has agreed not to start manufacturing new materials at the Bayview facility, but to isolate existing materials manufactured at the Bayview facility. [FDA’s] After this news, the price of Emergent’s common stock fell. $ 9.77 Per share or 12% or more from the closing price of $ 77.64 Per share April 16, 2021Close with, $ 67.87 Per share April 19, 2021..

Is Loss The proceedings allege that the defendant did not disclose the following during the class action. Baltimore The facility has a history of manufacturing problems that increase the potential for large-scale contamination. (2) Baltimore The facility received a series of FDA citations as a result of these pollution risks and quality control issues. (3) Emergent was forced to dispose of millions of COVID-19 vaccines after facility employees deviated from manufacturing standards. (4) As a result of the above, Defendant’s public statement on Emergent’s ability to mass-produce multiple COVID-19 vaccines at that time Baltimore The facility was virtually false and / or misleading, and / or lacked reasonable grounds.

Emerging investors At the latest June 18, 2021Through, Kessler Topaz Meltzer & Check, LLP, or other attorneys, you may seek to be nominated as the Group’s principal plaintiff representative, or you may choose to do nothing and remain absent group members. The main plaintiff is the representative who acts on behalf of all class members in conducting the proceedings. In order to be nominated as the primary plaintiff, the court must determine that the claims of the members of the group are typical of the claims of the members of the other group and that the members of the group properly represent the group. It doesn’t become. Your ability to share recovery is unaffected by the decision to become the primary plaintiff.

Kessler Topaz Meltzer & Check, LLP has filed class actions in state and federal courts nationwide, including securities fraud, breach of trustee obligations, and other breach of state and federal law. Kessler Topaz Meltzer & Check, LLP is the driving force behind corporate governance reform, recovering billions of dollars on behalf of institutional and individual investors. USA And all over the world. The company represents investors, consumers and whistleblowers (general citizens who report fraud against the government and participate in the government’s dollar recovery). Learn more about Kessler Topaz Meltzer & Check, LLP. www.ktmc.com..

Kessler Topaz Melzer & Check, LLP

Source: Kessler Topaz Meltzer & Check, LLP

Kessler Topaz Meltzer & Check, LLP: Alerting Investors About Securities Fraud Class Actions Filed Against Emergent BioSolutions Inc. | Status

Source link Kessler Topaz Meltzer & Check, LLP: Alerting Investors About Securities Fraud Class Actions Filed Against Emergent BioSolutions Inc. | Status

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