STEVENSON, Md., July 22, 2016 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the District of Maryland, Southern Division, on behalf of purchasers of Emergent Biosolutions, Inc. (NYSE:EBS) (“Emergent” or the “Company”) common stock during the period between January 11, 2016 and June 21, 2016, inclusive (the “Class Period”). Emergent is headquartered in Gaithersburg, Maryland. Brower Piven is the only firm headquartered in Maryland with a practice dedicated primarily to shareholder class action litigation.
Investors who wish to become proactively involved in the litigation have until September 19, 2016 to seek appointment as lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Emergent common stock during the Class Period. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that Emergent had no reason to believe that a renewal of its contract with the U.S. government would allow Emergent to manufacture roughly 20 to 25 million doses of BioThrax annually that the U.S. government would purchase over a five-year period in order to build the U.S. Strategic National Stockpile of anthrax vaccine to 75 million doses.
According to the complaint, following the June 22, 2016 revelation by the Company that the U.S. government had issued two official solicitation notices specifying that it would only be purchasing 29.4 million doses of the BioThrax vaccine, roughly one-third less than the 44.75 million doses in the first agreement and far under the 75 million doses that Emergent had led their investors to believe and that instead of more first-generation BioThrax anthrax vaccines, the U.S. government wanted newer and faster next-generation anthrax vaccines, that once approved, would be put out for bids such that Emergent could lose its exclusivity, the value of Emergent shares declined significantly.
If you have suffered a loss in excess of $100,000 from investment in Emergent common stock purchased on or after January 11, 2016 and held through the revelation of negative information during and/or at the end of the Class Period and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html. You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616. Brower Piven also encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.