According to the Complaint, Emergent BioSolutions Inc. provides a variety of products and solutions that address public health threats, including manufacturing for the development of new vaccines. In April 2020, during the initial months of the COVID-19 pandemic, Emergent entered an agreement with J&J to provide its Bayview manufacturing facilities to support J&J’s goal of supplying one billion doses of a COVID-19 vaccine. Under the deal, valued at $135 million, Emergent would provide drug substance manufacturing services and reserve large-scale manufacturing capacity for J&J.

The Complaint alleges that the Company failed to disclose to investors myriad issues at Bayview that would detrimentally affect its ability to manufacture the vaccine. The Complaint further alleges that as a result of Defendants’ wrongful acts and omissions, and the precipitous decline in the market value of the Company’s common stock, Plaintiff and the other Class members have suffered significant losses and damages.

On December 23, 2021, the Court issued an Order consolidating cases and appointing Lead Plaintiffs and Counsel. All future docketing was ordered to be done in the lead case 21-CV-00955.

Lead Plaintiffs filed an amended Complaint on March 19, 2022. Defendants filed a Motion to Dismiss the amended Complaint on May 19. On September 1, 2023, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.

Lead Plaintiff filed a Motion for Class Certification on February 9, 2024. On June 18, the Court granted the Motion for Class Certification. On September 12, the parties entered into a Stipulation of Settlement. The Court granted preliminary approval of the Settlement on October 4. On February 27, 2025, the Court granted final approval of the Settlement, including an award of Attorneys’ Fees and Expenses, and entered Final Judgment.