Twist Bioscience
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
Twist is a biotechnology company that specializes in manufacturing synthetic DNA and DNA products. During the class period, defendants repeatedly emphasized to investors that the company had innovative proprietary technology that would lead to significant growth, they reported increasing gross margins and announced plans to build a large manufacturing facility in Oregon, with projections of annual capital expenditure between $95 to $100 million. However, on November 15, 2022, a report by Scorpion Capital alleged that Twist was not in good financial health and was actually perpetuating a fraud by falsely reporting capital expenditures and gross margins. The report also alleged that Twist’s growth was based on unsustainable pricing strategies, that their technology was not viable and that the company was operating a Ponzi-like scheme that would end in bankruptcy. The stock price of Twist dropped 20% following the revelation. The complaint states that defendants made false and misleading statements and failed to disclose negative information about the company, leading to damages for the Plaintiff and other members of the class.
