ADMA Biologics Hit With Federal Securities Lawsuit Over Revenue Inflation Allegations

A federal securities lawsuit has been filed against ADMA Biologics, Inc. (NASDAQ:ADMA), alleging that the company artificially inflated its revenue through improper accounting practices.

The complaint, filed in a New York district court, accuses ADMA of misrepresenting its financial performance to investors and regulators. The plaintiffs claim that the company’s revenue growth was fueled by an “improper accounting practice” that overstated sales by millions of dollars.

ADMA Biologics has seen significant stock price fluctuations over the past year, with a high of $17.50 and a low of $3.25. Despite its volatility, the company remains under scrutiny from investors and regulators alike. The lawsuit alleges that ADMA’s financial reporting was misleading, causing investors to purchase shares at artificially inflated prices.

The plaintiffs are seeking damages on behalf of investors who purchased ADMA stock between August 2021 and April 2022. The case is the latest in a string of securities lawsuits targeting companies accused of accounting irregularities.

Source: original report.