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

LAWSUIT FILED – Ginkgo Bioworks Sued for Securities Law Violations; Investors Should Contact Block & Leviton for More Information

November 18, 2021 GMT

BOSTON, Nov. 18, 2021 (GLOBE NEWSWIRE) -- Block & Leviton announces that a class action lawsuit has been filed against Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) for potential securities law violations. Investors who purchased shares and have lost money are encouraged to contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/dna.

What is this all about?

On October 6, 2021, short seller Scorpion Capital released a report alleging that Ginkgo Bioworks Holdings is a “colossal scam.” The 175-page report alleges that Ginkgo Bioworks’ business model is a “shell game,” and that the company is highly dependent on related party transaction revenues. The report charges that the company is a “Frankenstein mash-up of the worst frauds of the last 20 years.”

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Ginkgo Bioworks Holdings went public via a deSPAC transaction with blank check company Soaring Eagle Acquisition Corporation in September 2021.

Shares in Ginkgo Bioworks fell more than 20% on October 6 after publication of the report.

Who is eligible?

Anyone who purchased Ginkgo Bioworks Holdings, Inc. stock between May 11, 2021 and October 5, 2021 is potentially eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.

What should you do next?

The deadline to seek appointment as lead plaintiff is January 17, 2022. A class has not yet been certified, and until a certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

If you’ve lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at cases@blockleviton.com, or by phone at (617) 398-5600.

Why should you contact Block & Leviton?

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Many law firms have issued releases about this matter; most of those firms do not actually litigate securities class actions. Block & Leviton is a law firm that actually litigates cases. We are dedicated to obtaining significant recoveries on behalf of defrauded investors through active litigation in the federal courts across the country. Many of the nation’s top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, or call (617) 398-5600 or email cases@blockleviton.com with any questions.

This notice may constitute attorney advertising.

CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email:  cases@blockleviton.com  

SOURCE: Block & Leviton LLP
www.blockleviton.com