Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Twist Bioscience Corporation (TWST)

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming February 10, 2023 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Twist Bioscience Corporation (“Twist” or the “Company”) (NASDAQ: TWST) common stock between December 13, 2019 and November 14, 2022, inclusive (the “Class Period”).

Investors suffering losses on their Twist investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [e-mail].

On November 15, 2022, Scorpion Capital published a research report, alleging that the Company is a “cash-burning inferno” and that it is “operating a ponzi-like scheme that will end in bankruptcy.” The report further claimed that Twist’s purported DNA chip technology is a “farce”, that the Company’s growth and revenues are unsustainable, and that the Company is perpetuating its fraud through false reporting of capital expenditures and gross margins.

On this news, Twist’s stock price fell $7.57, or 19.9%, to close at $30.43 per share on November 15, 2022, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants: (1) overstated the commercial viability of Twist’s synthetic DNA manufacturing technology while engaging in accounting fraud and using unsustainable pricing to inflate the Company’s true financial condition and prospects; and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

If you purchased or otherwise acquired Twist common stock during the Class Period, you may move the Court no later than February 10, 2023 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at [phone], toll-free at [phone], or by email to [e-mail], or visit our website at www.howardsmithlaw.com.

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