According to the Complaint, Twist Bioscience Corporation is a biotechnology company that manufactures synthetic DNA and DNA products. Synthetic DNA products allow users to design and modify DNA for the purposes of academic research, enhancing specialty chemical production, and developing healthcare treatments, among other uses.

The Complaint alleges that, throughout the Class Period, the Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts, about Twist’s business and operations. Specifically, the Complaint alleges that Defendants 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 that as a result of Defendants’ wrongful acts and omissions, and the significant decline in the market value of Twist’s common stock, Plaintiff and other members of the Class have suffered significant damages.

On July 28, 2023, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on October 11.