NEW YORK, July 20, 2016 (GLOBE NEWSWIRE) -- Safirstein Metcalf LLP announces that a complaint has been filed on behalf of purchasers of Emergent Biosolutions Inc. (“Emergent”) (NYSE:EBS) common stock during the period between January 11, 2016 and June 21, 2016 (the “Class Period”).  This action was filed in the District of Maryland.

If you purchased Emergent shares during the Class Period, you may, no later than September 19, 2016, request that the Court appoint you lead plaintiff of the proposed class. A lead plaintiff is a representative party that acts on behalf of all class members in directing the litigation. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

If you would like more information about getting involved in the Emergent Securities Class Action, please contact Sheila Feerick at 1-800-221-0015 or email info@SafirsteinMetcalf.com or http://www.safirsteinmetcalf.com/emergent.html  

The complaint alleges that Emergent and certain of its officers and directors committed violations of the Securities Exchange Act of 1934.  Emergent is a specialty biopharmaceutical company.  Emergent’s anthrax vaccine, BioThrax (Anthrax Vaccine Adsorbed) (“BioThrax”), is the only one licensed by the U.S. Food and Drug Administration (“FDA”).  In September 2011, Emergent entered into a five-year procurement contract with the U.S. government for 44.75 million doses of BioThrax.  By the start of the Class Period, Emergent was reporting that it had sold all of its BioThrax on hand and was working on a massive expansion of its BioThrax production facilities.

The complaint alleges that defendants issued materially false and misleading information regarding the Company’s business and financial prospects, particularly in relation to potential contract renewals and demand from the U.S. government for its anthrax vaccine BioThrax. As a result of defendants’ materially false and misleading statements, Emergent common stock traded at artificially inflated prices, reaching a Class Period high of $43.95 per share, enabling certain of the defendants to sell their personally held shares of Emergent common stock for proceeds of over $14.5 million.

On June 22, 2016, before the open of trading, Emergent Biosolutions announced that the U.S. government had notified the Company it would only be purchasing 29.4 million doses of the vaccine over the following five years—an amount approximately one third less than the original contract. In addition, the Company disclosed that the government was seeking other anthrax vaccines, and that it was putting its supply bid out to other companies.  Following this news, the price of Emergent stock declined from a close of $39.32 per share on June 21, 2016 to a close of $31.33 per share on June 22, 2016.

About Safirstein Metcalf LLP

Safirstein Metcalf LLP focuses it practice on shareholder rights. The law firm also practices in the areas of antitrust and consumer protection.  All of the Firm’s legal endeavors are rooted in its core mission: provide investor and consumer protection.

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Safirstein Metcalf LLP

Peter Safirstein, Esq.
1250 Broadway
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New York, NY  10001
1-800-221-0015
info@SafirsteinMetcalf.com

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