The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Northern District of California on behalf of shareholders of Ginkgo Bioworks Holdings, Inc. who purchased securities between May 11, 2021 and October 5, 2021.
(1) the Company’s failure to derive real revenue from third-party customers left it almost completely dependent on related parties; (2) as a result, most, if not all, of the Company’s revenue came from related parties the Company created, funded, or controlled through its ownership and board seats; (3) the Company was misclassifying and underreporting related party revenue in order to conceal the Company’s near total-dependence on related parties; (4) many of the Company’s new R&D partners are undisclosed related parties and/or façades; (5) as a result, the Company’s valuation was significant less than Defendants disclosed to investors; and (6) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.
“Ginkgo Bioworks Holdings, Inc.”
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until January 18, 2022 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.
