The law firm said the proposed securities class action alleges undisclosed related-party transactions, channel stuffing and weak internal controls, with investors who bought during Aug. 9, 2024-Mar. 25, 2026 facing an Aug. 10, 2026 lead plaintiff deadline.
Hagens Berman said a securities fraud class action has been filed against ADMA Biologics, Inc. covering Aug. 9, 2024 to Mar. 25, 2026. The lawsuit alleges ADMA misrepresented its financial condition, revenue recognition, inventory distribution and business practices, including an undisclosed related-party transaction, channel stuffing and inadequate internal controls. The firm said the allegations surfaced after a March 24, 2026 Culper Research short-seller report and ADMA's March 26 response saying it was reviewing the assertions, contributing to a combined 31.6% two-day stock drop on March 24-25 and a further 13.9% decline on March 26 after Cantor Fitzgerald downgraded the shares. Hagens Berman partner Reed Kathrein said the firm is investigating whether ADMA concealed the reality of its distribution channels and financial reporting. The deadline to seek appointment as lead plaintiff is Aug. 10, 2026.