SAN DIEGO, Jan. 15, 2022 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Berkeley Lights, Inc. (NASDAQ: BLI). The class action is on behalf of shareholders who purchased Berkeley Lights securities between July 17, 2020 and September 14, 2021, inclusive (the "Class Period"). To serve as lead plaintiff in this class action, you must move the Court no later than February 7, 2022.
What actions may I take at this time? If you suffered a substantial loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker (firstname.lastname@example.org) by email or phone at 619-814-4471. If emailing, please include a phone number. Additionally, you can:
The lawsuit alleges throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Berkeley Lights’ flagship instrument, the Beacon, suffered from numerous design and manufacturing defects including breakdowns, high error rates, data integrity issues and other problems, limiting the ability of biotechnology companies and research institutions to consistently use the machines at scale; (ii) Berkeley Lights had received numerous customer complaints regarding the durability and effectiveness of Berkeley Lights’ automation systems, including complaints related to the design and manufacturing; (iii) the actual market for Berkeley Lights’ products and services was a fraction of the $23 billion represented to investors because of, among other things, the relatively high cost of Berkeley Lights’ instruments and consumables and inability to provide the sustained performance necessary to justify these high costs; and (iv) as a result, Defendants’ statements to investors during the Class Period regarding Berkeley Lights’ business, operations and financial results were materially false and misleading.
A lead plaintiff will act on behalf of all other class members in directing the Berkeley Lights class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor's ability to share any potential future recovery of the Berkeley Lights class action lawsuit is not dependent upon serving as lead plaintiff.
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