SAN DIEGO, July 23, 2016 /PRNewswire-USNewswire/ --
Shareholder Rights Law Firm Johnson & Weaver, LLP is
investigating potential violations of the federal and state
securities laws by Emergent BioSolutions, Inc. (NYSE: EBS) and
certain of its officers and board members. Emergent BioSolutions is
a specialty biopharmaceutical company that develops, manufactures
and sells specialized products to healthcare providers and
governments.
Specifically, a class action has been commenced in the USDC for
the District of Maryland, on
behalf of purchasers of Emergent Biosolutions securities between
January 11, 2016 and June 21, 2016.
The complaint alleges that defendants issued materially false
and misleading information regarding the Company's business and
financial prospects, particularly in relation to potential contract
renewals and demand from the U.S. government for its anthrax
vaccine BioThrax. The complaint further alleges that these upbeat
statements caused the stock to trade at artificially inflated
prices, allowing insiders to sell their shares at these inflated
prices.
On June 22, 2016, before the open
of trading, Emergent Biosolutions announced that the U.S.
government had notified the Company it would only be purchasing
29.4 million doses of the vaccine over the following five years; an
amount approximately one third less than the original contract.
Additionally, the Company disclosed that the government was seeking
other anthrax vaccines and that it was putting its supply bid out
to other suppliers.
If you have held shares continuously prior to January 2016, you may have standing to
hold Emergent Biosolutions harmless from the damage the officers
and directors caused by making them personally responsible. You may
also be able to assist in reforming the Company's corporate
governance to prevent future wrongdoing. If you wish to discuss
your rights, please contact Jim
Baker (jimb@johnsonandweaver.com) by email or by phone at
619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
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