An investigation on behalf of current long term investors in Emergent BioSolutions Inc (NYSE:EBS) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 08/23/2021 -- Certain directors of Emergent BioSolutions Inc are under investigation concerning potential breaches of fiduciary duties.
Investors who are current long term investors in Emergent BioSolutions Inc (NYSE: EBS) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NYSE: EBS stocks follows a lawsuit filed against Emergent BioSolutions Inc over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: EBS stocks, concerns whether certain Emergent BioSolutions Inc directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that, the company failed to disclose to investors myriad issues at Bayview that would detrimentally affect its ability to manufacture the vaccine. Investors began to learn the truth on March 31, 2021, after the close of markets, when media reports revealed that employees at Emergent's Bayview 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 and part of a history of manufacturing issues at the Company's plant. Media outlets called the massive contamination a "significant setback and public relations debacle" and highlighted longstanding contamination risks and quality control issues at the Company's facilities, leading to a string of FDA citations, including a persistent problem with mold, poor disinfection of some plant equipment leading to growth of bacteria, the repeated approval of raw materials that had not been fully tested, and poor employee training.
Shares of Emergent BioSolutions Inc (NYSE: EBS) declined on April 22, 2021, to as low as $61.00 per share.
Those who purchased shares of Emergent BioSolutions Inc (NYSE: EBS) have certain options and should contact the Shareholders Foundation.
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