COMPANY |
Emergent BioSolutions Inc. |
COURT |
United States District Court for the District of Maryland |
CASE NUMBER |
21-cv-00955 |
JUDGE |
The Honorable Deborah L. Boardman |
CLASS PERIOD |
April 24, 2020 through April 16, 2021 |
SECURITY TYPE |
All Securities |
Case Background:
The Class Period begins on April 24, 2020, the day after Emergent announced that it had entered into an agreement with J&J to manufacture J&J’s COVID-19 vaccine candidate at Emergent’s Baltimore facility. Under the deal, Emergent would provide drug substance manufacturing services and reserve large-scale manufacturing capacity for J&J. Then, on June 11, 2020 Emergent announced that it had signed another agreement to provide contract development and manufacturing services and secure large-scale manufacturing capacity to support AstraZeneca’s COVID-19 vaccine candidate.
The Action alleges that, throughout the Class Period, the Defendants failed to disclose that: (1) Emergent’s Baltimore facility had a history of manufacturing issues increasing the likelihood for massive contaminations; (2) the Baltimore facility had received a series of FDA citations as a result of these contamination risks and quality control issues; (3) Emergent had been forced to discard millions of doses of COVID-19 vaccines after workers at the facility deviated from manufacturing standards; and (4) as a result of the foregoing, the defendants’ public statements about Emergent’s ability and capacity to mass manufacture multiple COVID-19 vaccines at its Baltimore facility were materially false and/or misleading and/or lacked a reasonable basis.
Current Status of Case:
On September 1, 2023, the Court entered an Order granting in part and denying in part Defendants’ Motion to Dismiss. This action is in the discovery phase and is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.