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Berkeley Lights Inc. Securities Fraud Investigation

PRODUCT: Berkeley Lights Inc. Securities
CASE STATUS: Under Investigation
TICKER SYMBOL: NASDAQ: BLI
LEAD PLAINTIFF DEADLINE: February 7, 2022
CLASS PERIOD START DATE: July 17, 2020
CLASS PERIOD END DATE: September 14, 2021

Berger Montague is investigating securities fraud allegations on behalf of investors who purchased the securities of Berkeley Lights Inc. (“Berkeley Lights” or the “Company”) (NASDAQ: BLI) between July 17, 2020 through September 14, 2021 (the “Class Period”).

If you purchased Berkeley Lights securities during the Class Period, would like to discuss Berger Montague’s investigation, or have questions concerning your rights or interests, please contact attorneys Andrew Abramowitz at [email protected] or (215) 875-3015, or Michael Dell’Angelo at [email protected] or (215) 875-3080.

Click here to join the class action.

Whistleblowers: Anyone with non-public information regarding Berkeley Lights is encouraged to confidentially assist Berger Montague’s investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.

According to a recently filed complaint, cell biology specialist Berkeley Lights falsely portrayed the accuracy of its lab instrument, the Beacon, which defendants touted as “a better, more advanced way to process and analyze cells.”

The lawsuit alleges that defendants failed to disclose that the Beacon suffered from numerous design and manufacturing defects, including high error rates and data integrity issues, and that the Company had received numerous customer complaints regarding the durability and effectiveness of the Company’s automation systems, and that the actual market for Berkeley Lights’ products was just a fraction of the $23 billion represented to investors.

On September 15, 2021, Scorpion Capital published a highly incriminating report in which Scorpion, relying on statements by the Company’s customers and employees, stated that the Beacon is a flop, with astronomical error rates, machine break downs, and that key product claims and capabilities are false. On this news, Berkeley Lights shares declined $9.23 per share, or 30%, over two trading days to a close of $23.53 on September 16.

Lead Attorneys

Andrew Abramowitz Headshot

Andrew Abramowitz

Senior Counsel
Michael Dell'Angelo Headshot

Michael Dell'Angelo

Executive Shareholder