BERKELEY LIGHTS, INC. CLASS ACTION ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed against Berkeley Lights, Inc. in the United States District Court for the Northern District of California

NEW YORK, Dec. 16, 2021 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP  announces that a federal securities class action has been filed against Berkeley Lights, Inc. ("Berkeley Lights" or the "Company") (NASDAQ: BLI) in the United States District Court for the Northern District of California on behalf of all persons and entities who purchased or otherwise acquired Berkeley Lights securities between July 17, 2020 and September 14, 2021, both dates inclusive (the "Class Period").

All investors who purchased the shares of Berkeley Lights, Inc. and incurred losses are urged to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.

If you have incurred losses in Berkeley Lights, Inc. you may, no later than February 7, 2022, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Berkeley Lights, Inc.

PLEASE CLICK HERE TO JOIN CASE

On September 15, 2021, research analyst firm Scorpion Capital issued a scathing investigative report, titled "Fleecing Customers and IPO Bagholders with a $2 Million Black Box That's a Clunker, While Insiders and Silicon Valley Bigwigs Race to Dump Stock. Just Another VC Pump at 27X Sales. Target Price: $0," which criticized Berkeley Lights' technology and questioned the durability of Berkeley Lights' most important business relationships and its business growth plan. Although Scorpion Capital stated it was short Berkeley Lights, the information contained in the Scorpion Capital report was purportedly based on extensive proprietary research and analysis, including 24 research interviews with former Berkeley Lights employees, industry scientists, and end users across 14 of Berkeley Lights' largest customers.

Among other findings, the report detailed a "trail of customers who allege they were 'tricked,' misled, or over-promised into buying a $2 million lemon" and concluded that the "reality is so far from BLI's grandiose hype that we believe its product claims and practices may constitute outright fraud." On this news, the price of Berkeley Lights common stock fell by nearly 30% over two trading days, damaging investors.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at [email protected], or visit our website at  www.whafh.com.

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected], [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

SOURCE Wolf Haldenstein Adler Freeman & Herz LLP

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