LOS ANGELES, Oct. 06, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Ginkgo Bioworks Holdings, Inc. ("Ginkgo" or the "Company") (NYSE: DNA) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
In September 2021, Ginkgo Bioworks went public by way of a deSPAC transaction with blank check company Soaring Eagle Acquisition Corporation. Scorpion Capital, a short seller, released a report on October 6, 2021, stating Ginkgo Bioworks is a “colossal scam.” Scorpion says within this report that, “We believe that Ginkgo is concealing the true extent of its dependence on related party revenue and that it is even greater than it reports. We have uncovered a smoking gun that indicates that essentially all of its foundry revenue is derived from related parties.” On October 6, 2021, Ginkgo Bioworks' stock price fell over 20% in early morning trading, following this news
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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