BLI DEADLINE: Robbins Geller Rudman & Dowd LLP Files Class Action Lawsuit Against Berkeley Lights, Inc. and Announces Opportunity for Investors with Substantial Losses to Lead Case | National News

SAN DIEGO, 9 Dec 2021 / PRNewswire / – The law firm of Robbins Geller Rudman & Dowd LLP has filed a class action lawsuit against buyers of common stock of Berkeley Lights, Inc. (NASDAQ: BLI) between 17th July 2020 and September 14, 2021, including (the “Classification Period”) and indictments against Berkeley Lights and certain of its officers for violating the Securities Exchange Act of 1934. The class action lawsuit against Berkeley Lights was filed on. initiated December 8, 2021 in the northern district of California and is entitled Ng v. Berkeley Lights, Inc., No. 21-cv-09497.

The plaintiff is represented by Robbins Geller, who years of experience in the prosecution of investor class actions, including actions related to financial fraud. You can view a copy of the complaint by clicking here.

If you would like to serve as the lead plaintiff in the Berkeley Lights class action, please complete your information by clicking here. You can also contact a lawyer JC Sanchez from Robbins Geller by phone at 800 / 449-4900 or by email at jsanchez@rgrdlaw.com. Motions by lead plaintiffs for the Berkeley Lights class action lawsuit must be filed with the court no later than. be submitted February 7, 2022.

CASE ALLEGATIONS: Berkeley Lights ‘class action alleges that during the collection period, defendants made false and misleading statements and failed to disclose: (i) Berkeley Lights’ flagship instrument, the Beacon, suffered from numerous design and manufacturing defects, including breakdowns , high error rates, data integrity problems, and other issues that limit the ability of biotechnology companies and research institutions to make large-scale consistent use of the machines; (ii) Berkeley Lights had received numerous customer complaints regarding the durability and effectiveness of Berkeley Lights’ automation systems, including complaints related to design and manufacture; (iii) the actual market for Berkeley Lights’ products and services was only a fraction of that $ 23 billion represented to investors, including because of the relatively high cost of Berkeley Lights instruments and consumables and the inability to provide the sustained performance necessary to justify such high cost; and (iv) as a result, defendants’ statements to investors during the class action period regarding the business, operations and financial results of Berkeley Lights were materially false and misleading.

on September 15, 2021Research analyst firm Scorpion Capital released a damning research report entitled “Fleecing Customers And IPO Bagholders With A $ 2 million Black Box is a clunker, while insiders and Silicon Valley bigwigs race to dispose of stocks. Just one more VC pump on 27X sales. Target price: $ 0“Which criticized Berkeley Lights ‘technology and questioned the durability of Berkeley Lights’ key business relationships and business growth plan. Although Scorpion Capital said it kept Berkeley Lights brief, the information contained in the Scorpion Capital report was allegedly based on extensive proprietary research and analysis, including 24 research interviews with former Berkeley Lights employees, industry scientists, and end-users at 14 of Berkeley Lights’ largest customers. Among other findings, the report describes a “trail of customers who claim they have been“ tricked ”and misled, or promised too much, a. to buy $ 2 million Lemon “and concluded that” the reality is so far removed from BLI’s grandiose hype that we believe its product claims and practices could be outright scam “- harming investors.

THE LEAD APPLICANT PROCESS: The Private Securities Litigation Reform Act of 1995 allows any investor who purchased Berkeley Lights common stock during the class action period to seek appointment as the lead plaintiff in the Berkeley Lights class action. A lead plaintiff is usually the applicant with the greatest financial interest in the legal protection sought by the alleged class, which is also typical and appropriate for the alleged class. A lead plaintiff is acting on behalf of all other group members directing the Berkeley Lights class action lawsuit. The lead plaintiff can select a law firm of their choice to bring the Berkeley Lights class action lawsuit. An investor’s ability to participate in a possible future recovery of the Berkeley Lights class action lawsuit does not depend on whether or not they act as the lead plaintiff.

ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: With 200 attorneys in 9 offices across the country, Robbins Geller Rudman & Dowd LLP is the largest US law firm serving investors in securities class actions. Robbins Geller’s attorneys have achieved many of the largest shareholder reclaims in history, including the largest stock class recovery reclaim of all time – $ 7.2 billion – in In re Enron Corp. Sec. Lit. ISS Securities Class Action Services 2020 Top 50 report ranked Robbins Geller # 1 in recovery $ 1.6 billion for investors in the past year, more than double the amount recovered from all other securities plaintiffs. More information is available at http://www.rgrdlaw.com.

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Contact:

Robbins Geller Rudman & Dowd LLP

655 W. Broadway, San Diego, CA 92101

JC Sanchez, 800-449-4900

jsanchez@rgrdlaw.com

https://www.linkedin.com/company/rgrdlaw

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SOURCE Robbins Geller Rudman & Dowd LLP

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