BOSTON, May 05, 2021 (GLOBE NEWSWIRE) -- Block & Leviton LLP announces that a lawsuit for violations of the federal securities laws has been filed against Emergent BioSolutions Inc. (NYSE: EBS) and certain of its executives. Investors who have lost money should contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/ebs. The deadline to move for appointment as lead plaintiff is June 18, 2021.
What is this all about?
Emergent is a biopharmaceutical company that develops vaccines and antibody therapies for infectious diseases. In response to the COVID-19 pandemic, Emergent signed deals with Johnson & Johnson and AstraZeneca worth a combined $875 million to provide services to produce those companies’ COVID-19 vaccine candidates, as well as another $628 million from the U.S. government as part of Operation Warp Speed. Emergent’s executives stated that it had “proven manufacturing capabilities in place,” rendering the Company “uniquely prepared to answer the call for [the] COVID-19 pandemic.”
However, on March 31, 2021, news reports revealed that employees at Emergent’s Baltimore manufacturing facility “mixed up” ingredients for the J&J and AstraZeneca vaccines, contaminating up to 15 million doses of the J&J vaccine. It was further revealed that this was not an isolated incident, but part of a history of manufacturing issues at the plant. News later broke that by December 2020, Emergent had to discard the equivalent of millions of AstraZeneca vaccine doses after they were spoiled by bacterial contamination at the same Baltimore plant. Shares plummeted over 15% in the next two trading days, down from the March 31, 2021 close of $92.91 per share to an April 5, 2021 close of $78.62 per share.
Who is eligible?
Anyone who purchased Emergent shares between July 6, 2020 and March 31, 2021 and has now lost money may be eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more. The deadline to move the Court to be appointed lead plaintiff is June 18, 2021. A class has not yet been certified, and until a certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
What is Block & Leviton doing?
Block & Leviton is working to attempt to recover losses on behalf of investors who have lost money.
What should you do next?
If you've lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at email@example.com, or by phone at (617) 398-5600.
Why should you contact Block & Leviton?
Many law firms have issued releases about this matter; many of those firms do not actually litigate securities class actions. Block & Leviton is a law firm that actually litigates cases. We are dedicated to obtaining significant recoveries on behalf of defrauded investors through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, or call (617) 398-5600 or email firstname.lastname@example.org with any questions.
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