BLI Investors Have Opportunity to Lead Berkeley Lights, Inc. Securities Fraud Lawsuit

LOS ANGELES, Feb. 2, 2022 /PRNewswire/ -- Glancy Prongay & Murray LLP ("GPM") announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Berkeley Lights ("Berkeley Lights" or the "Company") (NASDAQ: BLI).

Class Period: July 17, 2020 – September 14, 2021

Lead Plaintiff Deadline: February 7, 2022

If you wish to serve as lead plaintiff of the Berkeley Lights lawsuit, you can submit your contact information at www.glancylaw.com/cases/berkeley-lights-inc/.  You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.

The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors: (1) that Berkeley Lights' flagship instrument, the Beacon, suffered from numerous design and manufacturing defects including breakdowns, high error rates, data integrity issues and other problems, limiting the ability of biotechnology companies and research institutions to consistently use the machines at scale; (2) that Berkeley Lights had received numerous customer complaints regarding the durability and effectiveness of the Company's automation systems, including complaints related to the design and manufacturing detailed above, and described herein; (3) that the actual market for Berkeley Lights' products and services was a fraction of the $23 billion represented to investors because of, inter alia, the relatively high cost of the Company's instruments and consumables and inability to provide the sustained performance necessary to justify these high costs; and (4) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

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To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com.  If you inquire by email please include your mailing address, telephone number and number of shares purchased.

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

SOURCE Glancy Prongay & Murray LLP