NEW YORK, November 15, 2022: Wolf Popper LLP is investigating potential securities fraud claims on behalf of purchasers of Twist Bioscience Corporation (“Twist”) common stock (NASDAQ: TWST).
Twist is a synthetic biology and genomics company that claims to be developing a DNA synthesis platform to industrialize the engineering of biology.
Before the market opened on November 15, 2022, Scorpion Capital published a negative report on Twist entitled “A Cash-Burning Inferno That Is Not a Going Concern, Operating a Ponzi-Like Scheme That Will End In Bankruptcy. Just Another ’Synthetic Biology’ Swindle, This Time With An Absurd ’Silicon DNA Chip’ And Financials So Phony It May Be Criminal. Target Price: $0.” The report alleges Twist is “A ticking time bomb that we believe is resorting to a Worldcom-esque accounting fraud” and “Multiple competitors internally refer to Twist’s price dumping and customer subsidy scheme as a “Ponzi”. In early morning trading on November 15, 2022, Twist’s stock price is down $11.42 per share to $26.59, or a drop of 30.0%.
Investors who have lost over $25,000 trading in Twist’s common stock and who would like to discuss the investigation should contact Adam Savett at (610) 621-4550, or asavett@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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