Emergent BioSolutions Officers and Directors Under Investigation for Possible False Statements and Insider Trading

Schubert Jonckheer & Kolbe LLP is investigating potential derivative claims on behalf of shareholders of Emergent BioSolutions Inc. (EBS) relating to possible false statements to investors and insider trading by officers and directors.

Beginning on April 23, 2020, in the early stages of the COVID-19 pandemic, Emergent signed lucrative deals with Johnson & Johnson and AstraZeneca to produce the two companies’ COVID-19 vaccines at Emergent’s Baltimore, Maryland manufacturing facility. As alleged in several class action lawsuits filed against Emergent in the U.S. District Court for the District of Maryland, the company aggressively touted these deals to investors while withholding critical information about its then-ongoing history of poor quality control at the facility, including the results of a devastating FDA inspection in April 2020. Eventually, these alleged quality control problems caught up with Emergent, culminating in widely-circulated March and April 2021 reports that the company had contaminated millions of doses of the vaccines. Furthermore, in early April 2021, the U.S. government ordered Johnson & Johnson to take direct control of the facility and prohibited Emergent from producing any of the AstraZeneca vaccine, stripping the company of a lucrative contract. During the same period when Emergent was touting its ability to produce the COVID-19 vaccines, several high-level Emergent insiders sold more than $20 million of company stock at inflated prices.

The Schubert Firm is investigating potential breaches of fiduciary duty by the company’s officers and directors in connection with these allegations.

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