Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the District of Maryland on behalf of shareholders of Emergent BioSolutions Inc. who purchased shares between July 6, 2020 and March 31, 2021.
Emergent and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 31, 2021, post-market, news media outlets reported that the Company’s employees at its Bayview facility had conflated or “mixed up” ingredients for the Johnson & Johnson and AstraZeneca COVID-19 vaccines, ruining up to 15 million doses of the J&J vaccine, and that this occurrence was not an isolated event but was part of a history of manufacturing issues at the Company’s plant.
On this news, shares of Emergent plummeted over 15% over the next two trading days, from a closing price of $92.91 per share on March 31, 2021, to close at $78.62 on April 5, 2021.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until June 18, 2021 to request that the court appoint them lead plaintiff.