SAN FRANCISCO, Sept. 08, 2016 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP reminds investors in Emergent Biosolutions, Inc. (NYSE: EBS ) that the Lead Plaintiff Deadline is September 19, 2016 in the securities class action pending in the United States District Court for the District of Maryland.
If you purchased or otherwise acquired securities of Emergent Biosolutions between January 11, 2016 and June 21, 2016 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/EBS
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing EBS@hbsslaw.com .
Defendants are charged with securities law violations based on their statements that the U.S. government’s strong and growing demand for Emergent’s anthrax vaccine (BioThrax) was such that the government would renew Emergent’s 5-year exclusive anthrax vaccine procurement contract.
While its stock prices were elevated based on these reassurances, between January 11, 2016 and June 21, 2016 certain of Emergent’s senior executives and directors sold over 360,000 shares and received over $14.5 million in gross proceeds.
Then, on June 22, 2016 Defendants announced that the U.S. Department of Health and Human Services issued two solicitation notices indicating it would (1) purchase less BioThrax, (2) purchase doses of a next-gen anthrax vaccine when one was approved, and (3) seek bids from other companies for the remainder of its anthrax vaccine procurement.
This revelation contradicted Defendants’ prior assurances and surprised the market, causing the price of Emergent’s shares to fall approximately 20% to close at $31.33 per share on June 22, 2016.
“The insider selling strongly suggests Defendants knew claims that Emergent was on track to get its government contract renewed were inaccurate,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Emergent Biosolutions should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email EBS@hbsslaw.com .
About Hagens Berman Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com . Read the Firm’s Securities Newsletter , and visit the blog . For the latest news visit our newsroom or follow us on Twitter at @classactionlaw .
Contact: Reed Kathrein, 510-725-3000
