San Francisco, Calif .– (Newsfile Corp. – October 1, 2021) – Hagens Berman urges Berkeley Lights, Inc. (NASDAQ: BLI) investors with significant losses at submit your losses now.
Berkeley Lights, Inc. (BLI) investigation:
Investigation focuses on the accuracy of cell biologist Berkeley Lights’ statements regarding its only product, the Beacon: a $ 2 million lab instrument that the company touts as “a better and more advanced way to treat and analyze the cells “.
The company’s claims regarding the advanced technical features and capabilities of the beacon helped the company raise nearly $ 205 million when it went public in July 2020 and have maintained a valuation of $ 2.3 billion since. .
But on September 15, 2021, the company’s claims regarding the Beacon were called into question after the analyst Capital of Scorpio published a scathing report titled “Fleecing Customers And IPO Bagholders With A $ 2 Million Black Box That’s A Clunker”. Scorpion said its discussions with key Berkeley Lights customers and employees revealed the Beacon to be a flop, citing astronomical error rates, machine failures and key product claims and capabilities to be bogus.. In short, Scorpio reported finding a trail of customers who allege they were “tricked” into buying a $ 2 million lemon and “[t]The reality is so far removed from BLI’s awe-inspiring hype that we believe its claims and practices on its products may constitute outright fraud. “
These events drastically depressed the price of Berkeley Lights shares.
“We are focusing on investor losses and whether Berkeley Lights has distorted the commercial viability of the Beacon,” said Reed Kathrein, the Hagens Berman partner who is leading the investigation.
If you have invested in Berkeley Lights or have knowledge that could help the company’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Those with non-public information regarding Berkeley Lights should consider their options to assist with the investigation or take advantage of the SEC’s whistleblower program. Under the new program, whistleblowers who provide original information can receive rewards totaling up to 30% of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or send an email to [email protected]
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About Hagens Berman
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Reed Kathrein, 844-916-0895
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/98257