NEW YORK, Nov. 21, 2022 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Twist Bioscience Corporation ("Twist" or the "Company") (NASDAQ: TWST). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980.
The investigation concerns whether Twist and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On November 15, 2022, Scorpion Capital published a short report on Twist (the "Scorpion Report"). The Scorpion Report described Twist as "[t]he latest miniaturized 'lab-on-a-chip' scam, just like Theranos, Berkeley Lights, and other failures" and "[a] ticking time bomb that we believe is resorting to a Worldcom-esque accounting fraud". The Scorpion Report alleged that "Twist's reported gross margins of 45% are simply implausible" and claimed that "[m]ultiple competitors internally refer to Twist's price dumping and customer subsidy scheme as a 'Ponzi'".
Following publication of the Scorpion Report, Twist's stock price fell $7.57 per share, or 19.92%, to close at $30.43 per share on November 15, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP