San Diego, California--(Newsfile Corp. - February 1, 2022) - Johnson Fistel, LLP is investigating potential claims on behalf of Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) against certain of its officers and directors.
Recently, a class action complaint was filed against Ginkgo. According to the lawsuit, defendants throughout the Class Period made false and misleading statements and failed to disclose that: (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 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 façades; (5) as a result, the Company's valuation was significantly less than Defendants disclosed to investors; and (6) as a result, Defendants' public statements were materially false and misleading at all relevant times.
If you are a current, long-term shareholder of Ginkgo holding shares before May 11, 2021, you may have standing to hold Ginkgo Bioworks harmless from the alleged harm caused by the Company's officers and directors by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
To join this action, you can go to: https://www.cognitoforms.com/JohnsonFistel/GinkgoBioworksHoldingsInc2 or [Click here to join this action]. There is no cost or obligation to you.
If youare interested in learning more about the investigation, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.
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. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
To join this action, you can go to: https://www.cognitoforms.com/JohnsonFistel/GinkgoBioworksHoldingsInc2 or [Click here to join this action]. There is no cost or obligation to you.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/112302
