Twist Bioscience Corporation (NasdaqGS: TWST)
Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until February 10, 2023 to file lead plaintiff applications in a securities class action lawsuit against Twist Bioscience Corporation (NasdaqGS: TWST), if they purchased the Company’s shares between December 13, 2019 and November 14, 2022, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.
Twist Bioscience and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On November 15, 2022, Scorpion Capital reported that the Company is “operating a Ponzi-like scheme that will end in bankruptcy,” that the Company’s growth and revenues were unsustainable, and that the Company was perpetuating its fraud through false reporting of capital expenditures and gross margins, among other issues.
On this news, shares of Twist Bioscience fell $7.57 per share, or nearly 20%, from a close of $38.00 per share on November 14, 2022, to close at $30.43 per share on November 15, 2022.
The case is Peters v. Twist Bioscience Corporation, et al., No. 22-cv-08168.