A class action lawsuit has been filed against ADMA Biologics and certain senior executives for securities fraud. The suit alleges that the company's reported 20% growth for 2025 was driven by a channel stuffing scheme, and that it failed to disclose related party transactions. On March 24, 2026, Culper Research published a report claiming ADMA induced a distributor to stock excess ASCENIV through rebates and extended payment terms, and that without this scheme, revenue would have declined 3% in 2025. The stock fell 16.6% that day, and continued to drop over subsequent days following an analyst downgrade. Investors have until August 10, 2026, to seek lead plaintiff appointment in the case pending in the U.S. District Court for the District of New Jersey.
ADMA Biologics IncSecurities fraud class action lawsuit alleging channel stuffing and related party transaction nondisclosure.