Press release
Lawsuit filed for Investors in shares of Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) over alleged Misleading Statements
A lawsuit was filed on behalf of investors in Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) shares.
Investors who purchased shares of Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) have certain options and for certain investors are short and strict deadlines running. Deadline: January 17, 2022. NYSE: DNA investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Boston, MA based Ginkgo Bioworks Holdings, Inc. develops platform for cell programming.
On October 6, 2021, Scorpion Capital published a 175-page research report on Ginkgo Bioworks Holdings, Inc. According to the report, Ginkgo Bioworks is highly dependent on related party transaction revenues and the Company is a "Frankenstein mash-up of the worst frauds of the last 20 years."
Shares of Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) declined from $12.27 per share on October 5, 2021, to $9.13 per share on October 6, 2021.
The plaintiff claims that between May 11, 2021 and October 5, 2021, the defendants and/or misleading statements and/or failed to disclose that the Company’s failure to derive real revenue from third-party customers left it almost completely dependent on related parties, that as a result, most, if not all, of the Company’s revenue came from related parties the Company created, funded, or controlled through its ownership and board seats, thatthe Company was misclassifying and underreporting related party revenue in order to conceal the Company’s near total-dependence on related parties, that many of the Company’s new R&D partners are undisclosed related parties and/or façades, that as a result, the Company’s valuation was significant less than Defendants disclosed to investors, and that as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.
Those who purchased shares of Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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