Wolf Popper LLP Announces Investigation on Behalf of Purchasers of Berkeley Lights, Inc. (BLI) Common Stock

New York, New York--(Newsfile Corp. - September 15, 2021) - Wolf Popper LLP is investigating potential securities fraud claims on behalf of purchasers of Berkeley Lights, Inc. (NASDAQ: BLI) common stock.

Berkeley Lights is a digital cell biology company that focuses on enabling and accelerating the rapid development and commercialization of biotherapeutics and other cell-based products. Berkeley Lights sells several machines that are used in a medical setting to perform various functions on cells. In addition, Berkeley Lights offers OptoSelect chips and reagent kits which are used in Berkeley's machines.

In July 2020, Berkeley Lights closed its initial public offering ("IPO"), in which Berkeley Lights sold 9,315,000 shares of common stock (which included 1,215,000 shares that were sold pursuant to the full exercise of the IPO underwriters' option to purchase additional shares) at a price to the public of $22.00 per share.

On November 19, 2020, Berkeley Lights filed a prospectus offering 3 million shares of Berkeley Lights's common stock by certain selling shareholder identified in the prospectus for $86.00 per share.

Before the market opened on September 15, 2021, Scorpion Capital published a negative report on Berkeley Lights entitled Fleecing Customers And IPO Bagholders With A $2 Million Black Box That's A Clunker, While Insiders and Silicon Valley Bigwigs Race To Dump Stock. Just Another VC Pump at 27X Sales. Target Price: $0. The report provided numerous examples of Berkeley Lights customers complaining about Berkley Lights' machine's high error rates and downtime because of various reasons. Furthermore, the report highlighted comments from former Berkeley Lights employees that said the total addressable market promoted by the company is "ridiculous" and "they know better" and they didn't want to hear "more accurate numbers."

Scorpion Capital also said it believed Berkeley Lights had begun stuffing the channel to mask sales declines and issued misleading press releases. In addition, the report said early venture capital investors and Berkeley Lights insiders have been selling shares.

On September 15, 2021, the price of Berkley Lights common stock fell $6.14 per share, or 18.7%, to close at $26.62 per share.

For more information, Berkeley Lights investors with trading losses of over $50,000 should contact Joshua Ruthizer at (212) 451-9668 or at jruthizer@wolfpopper.com.

Wolf Popper has successfully recovered billions of dollars for defrauded investors. Wolf Popper's reputation and expertise have been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation. For more information about Wolf Popper, please visit the Firm's website at www.wolfpopper.com.

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Wolf Popper LLP
Joshua Ruthizer
845 Third Avenue
New York, NY 10022
Tel.: (212) 451-9668
Email: jruthizer@wolfpopper.com

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