An investigation on behalf of investors in Berkeley Lights, Inc. (NASDAQ:BLI) shares over potential wrongdoing at Berkeley Lights, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 11/19/2021 -- Certain directors of Berkeley Lights, Inc. are under investigation over potential breaches of fiduciary duties.
Investors who purchased shares of Berkeley Lights, Inc. (NASDAQ: BLI) have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Berkeley Lights, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.
EmeryVille, CA based Berkeley Lights, Inc., a digital cell biology company, focuses on enabling and accelerating the rapid development and commercialization of biotherapeutics and other cell-based products.
Berkeley Lights, Inc. reported that its annual Total Revenue rose from $56.69 million in 2019 to $64.30 million in 2020, and that its Net Loss increased from $18.3 million in 2019 to $41.58 million in 2020.
On September 15, 2021, a short-seller report was published on Berkeley Lights, Inc.. The report alleged, among other things, that "a trail of customers who allege they were 'tricked,' misled, or over-promised into buying a $2 million lemon. The reality is so far from BLI's grandiose hype that we believe its product claims and practices may constitute outright fraud." Additionally stating, "We conducted 24 research interviews, including 7 former employees and executives of BLI, as well as 17 scientists and users across 14 of BLI's largest customers. We believe the customers we spoke with comprise >30-50% of BLI's entire installed base of 92 cell screening systems. We believe our research may represent the most in-depth due diligence to date on BLI, leading us to conclude it is just another vaporous venture capital IPO promotion with zero underlying value."
Shares of Berkeley Lights, Inc. (NASDAQ: BLI) shares declined from $37.86 per share on September 3, 2021, to $19.21 per shares on September 16, 2021.
Those who purchased shares of Berkeley Lights, Inc. (NASDAQ: BLI) have certain options and should contact the Shareholders Foundation.
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