Kessler Topaz Meltzer & Check, LLP Reminds Investors or June 18, 2021 Deadline in Securities Fraud Class Action Lawsuit
RADNOR, Pa., June 14, 2021 / PRNewswire / – Law firm Kessler Topaz Meltzer & Check, LLP announces that it has initiated a class action lawsuit against Emergent BioSolutions Inc. (NYSE: EBS) (“Emergent”) on behalf of investors who have purchased or acquired Emergent ) has filed common shares between April 24, 2020, and April 16, 2021, including (the “Class Period”). This lawsuit, entitled Roth v. Emergent BioSolutions Inc. et al., Case No. 1: 21-cv-01189-PX (the “Roth lawsuit”) was filed in The United States District Court for the district Maryland (Southern Division). To view a copy of the Roth Action Complaint, please click here.
Investor Deadline Reminder: For more information or information on participating in this litigation, please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. (484) 270-1435; toll free at (844) 887-9500; per email to [email protected]; or visit: https://www.ktmc.com/emergent-biosolutions-class-action-lawsuit?utm_source=PR&utm_medium=Link&utm_campaign=emergent.
Emergent is a specialist biopharmaceutical company that develops vaccines and antibody therapeutics for infectious diseases. Emergent signed a number of contracts with Johnson & Johnson (“J&J”) and AstraZeneca that together have a total value $ 876 million to provide contract development and manufacturing organization services to manufacture the companies’ COVID-19 vaccine candidates.
The lesson time starts on April 24, 2020, The day after Emergent announced it had entered into an agreement with J&J to manufacture J & J’s COVID-19 vaccine candidate at Emergent’s Baltimore Facility. Under the agreement, Emergent would provide drug manufacturing services and reserve large manufacturing capacity for J&J.
On April 19, 2021, Emergent announced that, at the request of the FDA, Emergent has agreed not to begin manufacturing new material at its Bayview facility and to quarantine existing material manufactured at the Bayview facility until the work is complete [FDA’s] Inspect and fix any resultant evidence. “Following the news, Emergent’s common stock declined $ 9.77 per share or more than 12% from the end $ 77.64 per share April 16, 2021, to close $ 67.87 per share April 19, 2021.
The Roth lawsuit alleges that during the entire collection period, defendants failed to disclose: (1) Baltimore the facility had a history of manufacturing problems that increased the likelihood of massive contamination; (2) the Baltimore the facility had received a number of FDA citations due to these contamination risks and quality control issues; (3) Emergent was forced to dump millions of doses of COVID-19 vaccine after workers at the facility deviated from manufacturing standards; and (4) as a result of the foregoing, defendants’ public statements about Emergent’s ability and capacity to mass-produce several COVID-19 vaccines Baltimore Establishment was materially incorrect and / or misleading and / or had no reasonable basis.
Aspiring investors can do so no later than June 18, 2021, seek to be appointed as lead class agent through Kessler Topaz Meltzer & Check, LLP, or other legal counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in the conduct of the dispute. To be named as a lead plaintiff, the court must determine that the class plaintiff’s claim is typical of those of other class members and that the class plaintiff is adequately representing the class action. Your ability to participate in a recovery will not be affected by whether or not you want to be the lead plaintiff.
Kessler Topaz Meltzer & Check, LLP pursues class actions in state and federal courts across the country involving securities fraud, fiduciary violations, and other violations of state and federal laws. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform and has reclaimed billions of dollars on behalf of institutional and private investors The United States and all over the world. The firm represents investors, consumers and whistleblowers (individuals who report fraudulent practices to the government and participate in recovery of government dollars). For more information on Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
Kessler Topas Meltzer & Check, LLP
James Maro, Jr., Esq.
Adrienne Bell, Esq.
Radnor, PA 19087
SOURCE Kessler Topas Meltzer & Check, LLP