EQUITY ALERT: Lundin Law PC Announces Securities Class Action Lawsuit against Emergent BioSolutions, Inc. and Reminds Investors with Losses to Contact the Firm
LOS ANGELES, CA / ACCESSWIRE / August 31, 2016 / Lundin Law PC (the “Firm”) announces a class action lawsuit has been filed against Emergent BioSolutions, Inc. (“Emergent” or the “Company”) (NYSE: EBS) concerning possible violations of federal securities laws between January 11, 2016 and June 21, 2016 (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm before the September 19, 2016 lead plaintiff motion deadline.
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the complaint, the Company issued materially false and misleading statements about its business and financial prospects, specifically relating to future lucrative contract renewals and demand from the U.S. government for its anthrax vaccine BioThrax. These statements caused the Company’s common stock to trade at artificially inflated prices, which certain defendants were able to sell. On June 22, 2016, Emergent announced that the U.S. government issued notices that it would be purchasing fewer doses than investors were led to believe, and that when newer and faster next-generation anthrax vaccines are developed and approved, the Company would lose its procurement contract exclusivity. When this information was released to the public, shares of Emergent dropped in value, causing investors harm.
Lundin Law PC was founded by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
This press release may be considered Attorney Advertising in certain jurisdictions under the applicable law and ethical rules.
SOURCE: Lundin Law PC