The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the District of Maryland on behalf of investors who purchased Emergent Biosolutions Inc. (NYSE: EBS) securities between January 11, 2016 and June 21, 2016.
According to the complaint, the defendants allegedly issued materially false and misleading information regarding the Company’s business and financial prospects, particularly in relation to potential contract renewals and demand from the U.S. government for its anthrax vaccine BioThrax. The complaint further alleges that these positive statements caused the stock to trade at artificially inflated prices, allowing insiders to sell their shares at these inflated prices. On June 22, 2016, Emergent Biosolutions announced that the U.S. government had notified the Company it would only be purchasing 29.4 million doses of the vaccine over the following five years—an amount approximately one third less than the original contract. In addition, the Company disclosed that the government was seeking other anthrax vaccines, and that it was putting its supply bid out to other companies.
If you suffered a loss in Emergent Biosolutions you have until September 19, 2016 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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