The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased Berkeley Lights, Inc. (NASDAQ: BLI) securities between July 17, 2020 and September 14, 2021.
According to the Berkeley Lights lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (a) Berkeley Lights’ flagship instrument, the Beacon, suffered from numerous design and manufacturing defects including breakdowns, high error rates, data integrity issues and other problems, limiting the ability of biotechnology companies and research institutions to consistently use the machines at scale; (b) Berkeley Lights had received numerous customer complaints regarding the durability and effectiveness of the Company’s automation systems; (c) the actual market for Berkeley Lights’ products and services was a fraction of the $23 billion represented to investors because of, inter alia, the relatively high cost of the Company’s instruments and consumables and inability to provide the sustained performance necessary to justify these high costs; and (d) as a result of (a)-(c), above, defendants’ statements to investors during the Class Period regarding Berkeley Lights’ business, operations and financial results were materially false and misleading.
If you suffered a loss in Berkeley Lights you have until February 7, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn\'t require that you serve as a lead plaintiff.
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