Kessler Topaz Meltzer & Check, LLP: Investigation on Behalf of Ginkgo Bioworks Holdings, Inc. Shareholders – 2021

Kessler Topaz Meltzer & Check, LLP is currently investigating potential violations of the federal securities laws on behalf of purchasers of Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) (“Ginkgo”) f/k/a Soaring Eagle Acquisition Corp. (Nasdaq: SRNG) (“Soaring Eagle”) securities between  May 11, 2021 and October 5, 2021 

Ginkgo investors may receive additional information about the investigation by clicking the link "Submit Your Information" above.

Ginkgo develops platform for cell programming. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. Ginkgo serves various end markets, including specialty chemicals, agriculture, food, consumer products, and pharmaceuticals.

On October 6, 2021, analyst Scorpion Capital published an investigative report concluding “Ginkgo is a house of cards – in our opinion, one of the most brazen frauds of the last 20 years.” The report claimed that Ginkgo’s business model is a related-party model whereby essentially 100% of the company’s deferred revenue are derived from related-party “customers” it created, funded, controls or influences via its ownership position and board seats. The report also alleged that Ginkgo has engaged in a brazen effort to misclassify and misreport related-party revenue and deceive investors with phony accounting and at least half of Ginkgo’s reported foundry revenue is phantom, non-cash and “pure accounting hocus-pocus.”

Following this news, Ginkgo’s stock price fell $1.39, or over 11%, to close at $10.59 per share on October 6, 2021. 

If you have any questions or would like to discuss this investigation, please contact Kessler Topaz Meltzer & Check, LLP:  James Maro, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at [email protected].