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Investigation announced for Investors in shares of Berkeley Lights, Inc. (NASDAQ: BLI)

09-21-2021 11:17 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation for investors in Berkeley Lights, Inc. (NASDAQ: BLI) shares over potential securities laws violations.

An investigation for investors in Berkeley Lights, Inc. (NASDAQ: BLI) shares over potential securities laws violations.

An investigation was announced concerning potential securities laws violations by Berkeley Lights, Inc in connection with certain financial statements.

Investors who purchased shares of Berkeley Lights, Inc. (NASDAQ: BLI), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Berkeley Lights, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

EmeryVille, CA based Berkeley Lights, Inc., a digital cell biology company, focuses on enabling and accelerating the rapid development and commercialization of biotherapeutics and other cell-based products.

Berkeley Lights, Inc. reported that its annual Total Revenue rose from $56.69 million in 2019 to $64.30 million in 2020, and that its Net Loss increased from $18.3 million in 2019 to $41.58 million in 2020.

On September 15, 2021, a short-seller report was published on Berkeley Lights, Inc.. The report 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.”

Shares of Berkeley Lights, Inc. (NASDAQ: BLI) shares declined from $37.86 per share on September 3, 2021, to $19.21 per shares on September 16, 2021.

Those who purchased shares of Berkeley Lights, Inc. (NASDAQ: BLI) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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