Berkeley Lights, Inc. Investigation
The law firm of Kirby McInerney LLP is investigating potential claims against Berkeley Lights, Inc. (“Berkeley Lights” or the “Company”) (NASDAQ: BLI). The investigation concerns whether Berkeley Lights has violated the federal securities laws and/or engaged in other unlawful business practices.
On September 15, 2021, Scorpion Capital published a research report, alleging, among other things, that Berkeley Lights’ customers “allege they were ‘tricked,’ misled, or over-promised into buying a $2 million” and that the Company’s “product claims and practices may constitute outright fraud.” Citing interviews with former employees and executives, the report stated that Berkeley Lights is “a chaotic, wayward company that never found a viable product, value proposition, or market – and corroborate the scathing feedback from customers.” The report additionally stated, “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.”
On this news, the Company’s share price declined by $6.14 per share, or approximately 18.74%, from $32.76 per share to close at $26.62 per share on September 15, 2021.
If you purchased or otherwise acquired Berkeley Lights securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at firstname.lastname@example.org, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.