BLI Investors Have Opportunity to Lead Berkeley Lights Securities Fraud Lawsuit

BENSALEM, Pa., Jan. 31, 2022 /PRNewswire/ -- Law Offices of Howard G. Smith 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

Investors suffering losses on their Berkely Lights investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].

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.

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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.

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

Contacts:

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com

SOURCE Law Offices of Howard G. Smith