An investigation on behalf of current long term investors in Twist Bioscience Corporation (NASDAQ:TWST) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 03/15/2023 -- An investigation was announced for current long-term investors in shares of Twist Bioscience Corporation (NASDAQ: TWST) concerning potential breaches of fiduciary duties by certain directors of Twist Bioscience Corporation.
Investors who are current long term investors in Twist Bioscience Corporation (NASDAQ: TWST) shares, 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 for investors in NASDAQ: TWST stocks follows a lawsuit filed against Twist Bioscience Corporation over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: TWST stocks, concerns whether certain Twist Bioscience Corporation directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that, the Defendants repeatedly assured investors that the company possessed innovative proprietary technology relating to its synthetic DNA products that positioned Twist for significant future growth, that the Defendants claimed that Twist had already achieved substantial growth between December 13, 2019, and November 14, 2022, growing from a customer base of approximately 1,300 diagnostic companies, hospitals, research institutions, and others at the end of fiscal year 2019, to approximately 2,900 customers at the end of fiscal year 2021, and that as alleged in the report by Scorpion Capital, Defendants overstated the commercial viability of Twist's synthetic DNA manufacturing technology while engaging in accounting fraud and using unsustainable pricing to inflate the company's true financial condition and prospects, and that as a result of Defendants' wrongful acts and omissions, and the significant decline in the market value of Twist's common stock, investors between December 13, 2019, and November 14, 2022 have suffered significant damages.
Those who purchased shares of Twist Bioscience Corporation (NASDAQ: TWST) have certain options and should contact the Shareholders Foundation.
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