Ginkgo Bioworks Holdings Inc. (NYSE: DNA) is facings a probe of possible securities claims from investor rights law firm, Rosen Law Firm, and leading Woman-owned and minority national securities law firm, Faruqi & Faruqi LLP. The probe is about allegations that the company had possibly issued materially deceiving business information to investors.
Ginkgo under probe for by various law firms
Investors that acquired Ginkgo securities can join a potential class action by signing at http://www.rosenlegal.com/cases-register-2172.html or call 866-767-3653 for information regarding the class action. In addition, Faruqi & Faruqi advises investors who suffered losses of more than $50,000 investing in the company’s securities or options to discuss their legal rights by calling Josh Wilson at 212-989-9330 877-247-4292. Most importantly, there will be no cost obligation to the investors that suffered losses.
Those that had purchases Ginkgo stock or options could be entitled to compensation, and there is no out-of-pocket fee payment or costs via a contingency fee plan. In addition, Rosen Law Firm will sue the company in a class action in an attempt to recover investor losses.
On October 6, 202, a Scorpion Capital report indicated that Ginkgo was involved in a “colossal scam.” The research report labels the company’s business model as a “shell game” since Ginkgo depends heavily on related party transaction revenues. Interestingly, the report calls the company a “Frankstein mash-up of the worst frauds of the last 20 years.”
Ginkgo went public in September 2021
It is vital to note that Ginkgo went public through a SPAC deal with blank check firm Soaring Eagle Acquisition Corporation last month. Following the publication of the report, shares of the company dropped around 20% in intraday trading.
Investors should be keen to select qualified counsel with a track record, and Rosen Law Firm is among the firms that fit the profile. Rosen Law Firm represents investors globally focusing on shareholder derivative litigation and securities class actions.