RADNOR, Pa., May 7, 2021 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP reminds Emergent BioSolutions Inc. (NYSE: EBS) ("Emergent") investors that a securities fraud class action lawsuit has been filed on behalf of those who purchased or acquired Emergent common stock between July 6, 2020 and March 31, 2021, inclusive (the "Class Period").
Emergent is a specialty biopharmaceutical company that develops vaccines and antibody therapeutics for infectious diseases.
The complaint alleges that throughout the Class Period, the defendants failed to disclose that: (1) Emergent's Baltimore plant had a history of manufacturing issues increasing the likelihood for massive contaminations; (2) these longstanding contamination risks and quality control issues at Emergent's facility led to a string of U.S. Food and Drug Administration citations; (3) Emergent previously had to discard the equivalent of millions of doses of COVID-19 vaccines after workers at the Baltimore plant deviated from manufacturing standards; and (4) as a result of the foregoing, the defendants' public statements about Emergent's ability and capacity to mass manufacture multiple COVID-19 vaccines at its Baltimore manufacturing site were materially false and/or misleading and/or lacked a reasonable basis.
Emergentinvestors may, no later than June 18, 2021, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other 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 directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.
Kessler Topaz Meltzer & Check, LLP James Maro, Jr., Esq. Adrienne Bell, Esq. 280 King of Prussia Road Radnor, PA 19087 (844) 887-9500 (toll free) [email protected]