WILMINGTON, Del., July 29, 2016 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of Emergent BioSolutions Inc. (NYSE: EBS ) ?
- Did you purchase your shares between January 11, 2016 and June 21, 2016, inclusive?
- Did you lose money in your investment?
Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the District of Maryland on behalf of all persons or entities that purchased the common stock of Emergent BioSolutions Inc. (“Emergent” or the “Company”) (NYSE: EBS ) between January 11, 2016 and June 21, 2016, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased shares of Emergent during the Class Period, or purchased shares prior to the Class Period and still hold Emergent, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to info@rl-legal.com ; or at: http://rigrodskylong.com/investigations/emerg...ns-inc-ebs . The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. Specifically, the Complaint alleges that the defendants concealed from the investing public that the U.S. government’s demand for BioThrax, an anthrax vaccine, had actually declined significantly as the U.S. government had made its top priority funding the development of alternative, next generation anthrax vaccines – those that worked quicker by requiring fewer than the three doses that BioThrax required. As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.
According to the Complaint, on June 22, 2016, before the opening of trading, Emergent issued a press release disclosing that the U.S. Department of Health and Human Services (“HHS”) had issued two official solicitation notices indicating that not only was the U.S. government not purchasing more BioThrax, it would only be purchasing 29.4 million doses of Emergent’s BioThrax vaccine for the U.S. government’s SNS over the following five years – approximately one-third less than the five-year contract for 44.8 million doses it was replacing. The Company also disclosed that instead of more first generation anthrax vaccine BioThrax, the U.S. government sought to procure between 14 and 27 million doses of a next-gen anthrax vaccine, once one was approved, and that the U.S. government was putting its supply bid for the rest of its anthrax vaccine procurement out to other companies, such that Emergent stood to lose its lucrative exclusivity.
On this news, shares of Emergent plummeted over 20%, closing at $31.33 per share on June 22, 2016, on heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later than September 19, 2016 . A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
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CONTACT: Rigrodsky & Long, P.A. Timothy J. MacFall, Esquire Peter Allocco (888) 969-4242 (516) 683-3516 Fax: (302) 654-7530 info@rl-legal.com http://www.rigrodskylong.com
