INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Exscientia p.l.c. (EXAI) Investors

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Exscientia p.l.c. (“Exscientia” or the “Company”) (NASDAQ: EXAI) securities between March 23, 2022 and Febraury 12, 2024, inclusive (the “Class Period”). Exscientia investors have until June 25, 2024 to file a lead plaintiff motion.

Investors suffering losses on their Exscientia 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 February 13, 2024, Exscientia announced that its CEO and Principal Executive Officer, Andrew Hopkins, had been terminated following an investigation which found that he had “engaged in relationships with two employees that the Board determined were inappropriate and inconsistent with the Company’s standards and values.” The Company also disclosed that the Chairman of the Company’s Board of Directors, David Nicholson, “had prior knowledge of the existence of the earlier of Dr. Hopkins’ relationships and had addressed the situation directly, and with the involvement of other outside counsel, rather than in consultation with the Board,” and “[f]ollowing discussions with the Board, on February 12, 2024 Dr. Nicholson tendered his resignation from his positions with the Company.”

On this news, Exscientia’s stock price fell $1.72, or 22.9%, to close at $5.79 per share on February 13, 2024, 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 failed to disclose to investors that: (1) Defendant Hopkins had engaged in improper relationships with employees that were inconsistent with the Company’s standards and values; (2) Defendant Nicholson had prior knowledge of Defendant Hopkins’s relationships and had improperly addressed Hopkins’s misconduct without consulting the Board; (3) the Company’s maintenance and enforcement of its Code of Business Conduct and Ethics was inadequate to safeguard against the foregoing conduct; (4) the foregoing failures subjected the Company to a heightened risk of disruptive leadership transitions and/or reputational harm; and (5) 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 Exscientia securities, have information or would like to learn more about these claims, or 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] or by email to [e-mail], or visit our website at www.howardsmithlaw.com.

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