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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

BLI Investor Alert: Bronstein, Gewirtz & Grossman, LLC Notifies Berkeley Lights, Inc. Investors of Class Action and Encourages Shareholders to Contact the Firm

January 4, 2022 GMT

NEW YORK--(BUSINESS WIRE)--Jan 4, 2022--

Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Berkeley Lights, Inc. (“Berkeley Lights” or the “Company”) (NASDAQ: BLI) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Berkeley Lights common stock between July 17, 2020 and September 14, 2021, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/bli.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the “Exchange Act”).

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The complaint alleges that throughout the Class Period, Defendants made false and misleading statements and failed to disclose that: (1) 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) Berkeley Lights had received numerous customer complaints regarding the durability and effectiveness of Berkeley Lights’ automation systems, including complaints related to the design and manufacturing; (3) the actual market for Berkeley Lights’ products and services was a fraction of the $23 billion represented to investors because of, among other things, the relatively high cost of Berkeley Lights’ instruments and consumables and inability to provide the sustained performance necessary to justify these high costs; and (4) as a result, defendants’ statements to investors during the Class Period regarding Berkeley Lights’ business, operations and financial results were materially false and misleading.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/bli or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Berkeley Lights you have until February 7, 2022, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

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Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

View source version on businesswire.com:https://www.businesswire.com/news/home/20220104005084/en/

CONTACT: Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Yael Nathanson

212-697-6484 |info@bgandg.com

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: Bronstein, Gewirtz & Grossman, LLC

Copyright Business Wire 2021.

PUB: 01/04/2022 11:00 AM/DISC: 01/04/2022 11:02 AM

http://www.businesswire.com/news/home/20220104005084/en