NEW ORLEANS, Jan. 14, 2022 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until February 7, 2022 to file lead plaintiff applications in a securities class action lawsuit against Berkeley Lights, Inc. (NasdaqGS: BLI), if they purchased the Company’s shares between July 17, 2020 and September 14, 2021, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.
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Berkeley Lights investors should visit us at https://claimsfiler.com/cases/nasdaq-bli/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Berkeley Lights and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On September 15, 2021, Scorpion Capital reported a wide range of criticisms against the Company purportedly based on extensive research and interviews of former employees and end-users, including that its machines were onerous, unusable, a waste of money, and had an error rate 50% higher than standard lab equipment, and that a negligible addressable market and negative customer experiences had further hindered the Company’s growth potential, among other things.
On this news, shares of Berkeley Lights plummeted nearly 30% over two trading days to close at $23.53 on September 16, 2021, on abnormally high trading volume.
The case is Ng v. Berkeley Lights, Inc., No. 21-cv-09497.
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