BLI Alert: Thornton Law Firm Reminds Berkeley Lights Investors of Securities Class Action Lawsuit

February 04, 2022 3:45 PM EST | Source: Thornton Law Firm

Boston, Massachusetts--(Newsfile Corp. - February 4, 2022) - The Thornton Law Firm reminds investors that a class action lawsuit has been filed on behalf of investors of Berkeley Lights, Inc. (NASDAQ: BLI). The case is currently in the lead plaintiff stage. Investors who purchased Berkeley Lights common stock between July 17, 2020 and September 14, 2021 may contact the Thornton Law Firm's investor protection team by visiting www.tenlaw.com/cases/Berkeley-Lights-Inc for more information. Investors may also email investors@tenlaw.com or call 617-531-3917.

FOR MORE INFORMATION: www.tenlaw.com/cases/Berkeley-Lights-Inc

The case alleges that Berkeley Lights and its senior executives made misleading statements to investors and failed to disclose that: (i) Berkeley Lights' flagship instrument, the Beacon, suffered from numerous design and manufacturing defects including breakdowns, high error rates, data integrity issues and other problems, limiting the ability of biotechnology companies and research institutions to consistently use the machines at scale; (ii) Berkeley Lights had received numerous customer complaints regarding the durability and effectiveness of Berkeley Lights' automation systems, including complaints related to the design and manufacturing; and (iii) the actual market for Berkeley Lights' products and services was a fraction of the $23 billion represented to investors because of, among other things, the relatively high cost of Berkeley Lights' instruments and consumables and inability to provide the sustained performance necessary to justify these high costs.

Interested Berkeley Lights investors have until February 7, 2022 to retain counsel and apply to be a lead plaintiff if they are interested to do so. A lead plaintiff acts on behalf of all other investor class members in managing the class action. Investors do not need to be a lead plaintiff in order to be a class member. If investors choose to take no action, they can remain an absent class member. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney. Thornton Law Firm is not currently representing a plaintiff who filed a complaint but is investigating the case on behalf of investors interested in being a lead plaintiff.

FOR MORE INFORMATION: www.tenlaw.com/cases/Berkeley-Lights-Inc

Thornton Law Firm's securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of investors. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

CONTACT:

Thornton Law Firm LLP
1 Lincoln Street
State Street Financial Center
Boston, MA 02111
www.tenlaw.com/cases/Berkeley-Lights-Inc

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/112682

info