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Globe Newswire 24-Jan-2023 11:28 PM
NEW ORLEANS, Jan. 24, 2023 (GLOBE NEWSWIRE) -- 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 (NASDAQ: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.
What You May Do
If you purchased shares of Twist and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (email@example.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-twst/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by February 10, 2023.
About the Lawsuit
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.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163