SAN DIEGO, Oct. 28, 2021 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP is investigating potential violations of the federal securities laws by Berkeley Lights Inc. ("Berkeley Lights" or the "Company") (NASDAQ: BLI).
On September 15, 2021, Scorpion Capital published a short-seller report on Berkeley Lights. In the report, Scorpion Capital alleged, among other things, that "a trail of customers who allege they were ‘tricked,’ misled, or over-promised into buying a $2 million lemon. The reality is so far from BLI’s grandiose hype that we believe its product claims and practices may constitute outright fraud.” Additionally, stating, “We conducted 24 research interviews, including 7 former employees and executives of BLI, as well as 17 scientists and users across 14 of BLI’s largest customers. We believe the customers we spoke with comprise >30-50% of BLI’s entire installed base of 92 cell screening systems. We believe our research may represent the most in-depth due diligence to date on BLI, leading us to conclude it is just another vaporous venture capital IPO promotion with zero underlying value.”
Following this news, the price of Berkeley Lights common shares fell over 18% on September 15, 2021
If you have information that could assist in this investigation, including past employees and others, or a Berkeley Lights shareholder and are interested in learning more about the investigation, please contact Jim Baker (firstname.lastname@example.org) by email or phone at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471