SAN DIEGO, Oct. 04, 2016 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit is pending in Maryland on behalf of certain purchasers of shares of Emergent Biosolutions Inc (NYSE: EBS ) over alleged Securities Laws Violations by Emergent Biosolutions Inc. The lawsuit seeks to recover damages for certain NYSE:EBS investors.
Investors who purchased shares of Emergent Biosolutions Inc (NYSE: EBS ) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On June 22, 2016, Emergent Biosolutions Inc (“Emergent”) announced that the U.S. government had issued two official solicitation notices indicating that it would only be purchasing 29.4 million doses of the BioThrax vaccine for its SNS over the following five years – approximately one-third less than the 44.75 million doses in the original contract. Emergent also disclosed that instead of more first-generation BioThrax anthrax vaccine, the government was seeking to procure a newer, faster-working next-generation anthrax vaccine, once one was approved, and that it 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.
The plaintiff alleges that with no reasonable basis to believe that the Company's renewal of its contract with the U.S. government would call for the same level of, much less increased, purchases of BioThrax, Emergent claimed it remained on track to receive the lucrative renewal of its five-year exclusive anthrax vaccine procurement contract, that Emergent repeatedly emphasized an ongoing strong demand for BioThrax in light of the U.S. government's funding of Emergent's massive expansion of its BioThrax production facility, claiming with no reasonable basis that the expansion would enable Emergent to manufacture some 20 to 25 million additional doses of BioThrax annually, which the government would purchase over the following five-year period in order to build the U.S. Strategic National Stockpile ("SNS") of anthrax vaccine to 75 million doses, and that as a result of defendants' allegedly materially false and misleading statements, Emergent common stock traded at artificially inflated prices and enabling certain of the defendants to sell their personally held shares of Emergent common stock for proceeds of over $14.5 million.
Those who purchased Emergent Biosolutions Inc (NYSE: EBS ) shares should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT: Shareholders Foundation, Inc. Michael Daniels +1 (858) 779-1554
