Update in Lawsuit for Investors in NYSE: EBS Shares Against Emergent Biosolutions Inc. Announced by Shareholders Foundation
SAN DIEGO, CA / ACCESSWIRE / February 12, 2018 / The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain purchasers of NYSE: EBS shares against Emergent Biosolutions Inc. over alleged violations of Securities Laws.
Investors, who purchased shares of Emergent Biosolutions Inc. (EBS) in early 2016 or earlier and continue to hold any of those Emergent Biosolutions Inc. (EBS) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On July 19, 2016, a lawsuit was filed against Emergent Biosolutions Inc. over alleged securities laws violations. The plaintiff alleged that with no reasonable basis to believe that the Company's renewal of its contract with the U.S. government would call for the same level of, much less increased, purchases of BioThrax, Emergent Biosolutions Inc. claimed it remained on track to receive the lucrative renewal of its five-year exclusive anthrax vaccine procurement contract, that Emergent also repeatedly emphasized an ongoing strong demand for BioThrax in light of the U.S. government's funding of Emergent's massive expansion of its BioThrax production facility, claiming with no reasonable basis that the expansion would enable the Company to manufacture some 20 to 25 million additional doses of BioThrax annually, which the U.S. government would purchase over the following five-year period in order to build the U.S. Strategic National Stockpile ("SNS") of anthrax vaccine to 75 million doses, and that as a result of defendants' allegedly materially false and misleading statements, Emergent Biosolutions Inc. common stock traded at artificially inflated prices, reaching between January 11, 2016 and June 21, 2016 high of $43.95 per share, and enabling certain of the defendants to sell their personally held shares of Emergent Biosolutions Inc. common stock for proceeds of over $14.5 million.
On December 27, 2016, an amended complaint was filed and February 27, 2017, the defendants filed their motion to dismiss the case. On July 7, 2017, the judge denied the defendants' motion to dismiss the lawsuit.
Those who purchased Emergent Biosolutions Inc. (EBS) shares should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
SOURCE: Shareholders Foundation, Inc.
