| 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 12, 2024, Lead Plaintiffs filed a Motion for Preliminary Approval of Class Action Settlement. On October 16, 2024 the Court issued an Order granting Lead Plaintiffs’ Motion for Preliminary Approval of Class Action Settlement and scheduled a Final Settlement Hearing on February 27, 2025.
The deadline to file a claim is February 4, 2025. Please note that Kessler Topaz did not file a claim on your behalf. Even if you previously provided your trading information to Kessler Topaz regarding this action, the Settlement requires that you must submit a claim form to the claims administrator to participate in the Settlement. If you have not yet already received or submitted a claim form, or if you would like to submit a claim form on-line, please contact the claims administrator at www.strategicclaims.net/emergent, or by calling Strategic Claims Services at 1-866-274-4004.
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.