Emergent BioSolutions Inc. (NASDAQ: EBS) stock gained by 0.61% at last close while the EBS stock price continued to rise by 5.54% in the pre-market trading session. Emergent BioSolutions, based in Gaithersburg, Maryland, is an international speciality biopharmaceutical firm. It creates vaccinations and antibody therapies for infectious illnesses and opioid overdoses, as well as biodefense medical equipment.
What’s going on?
Several law firms including Portnoy law firm has opened investigation against Emergent Biosciences. A class action lawsuit has been filed on behalf of Emergent BioSolutions stockholders who purchased shares between April 24, 2020, and April 16, 2021, according to the Portnoy Law Firm. Interested parties have until June 18, 2021, to take part in the case.
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The Portnoy Law Firm protects investors in corporate malfeasance lawsuits. Over $5.5 billion has been recovered for investors by the Firm’s founding partner. Advertisement for an attorney similar outcomes are not guaranteed based on previous results.
Defendants made false and misleading claims and/or omitted to disclose the following during the Class Period, according to the lawsuits:
- Emergent’s Baltimore site has a history of manufacturing failures, raising the possibility of major contaminations.
- As a result of these contamination risks and quality control concerns, the Baltimore plant had earned a series of FDA fines.
- After workers at the factory departed from production requirements, Emergent was compelled to trash millions of doses of COVID-19 vaccinations.
- As a consequence of the aforementioned, the defendants’ public representations concerning Emergent’s ability and capability to mass produce numerous COVID-19 vaccines at its Baltimore plant were materially false and/or misleading, and/or lacked a reasonable foundation. Investors were allegedly harmed when the full information were revealed, according to the complaint.