ADMA Biologics is facing a federal securities lawsuit alleging it inflated revenues of its flagship product through channel stuffing and concealed a distribution relationship tied to an entity allegedly controlled by a senior executive. The complaint, filed in the U.S. District Court for the District of New Jersey, claims the company and certain senior executives made materially false and misleading statements about revenue growth, internal controls, and related-party transactions. The allegations follow a Culper Research short-seller report published on March 24, 2026, after which ADMA shares fell roughly 16.6% that day, another 15% on March 25, and an additional 13.9% on March 26, closing at $8.29, down from about $13.59 before the report. Cantor Fitzgerald noted the company's response lacked specific feedback addressing the report's claims. The lawsuit was reported on June 15, 2026, just days after Raymond James resumed coverage with an Outperform rating and a $21 price target, citing ADMA's transformation into a profitable, high-growth company insulated from certain policy risks.
ADMA Biologics IncFederal securities lawsuit alleging revenue inflation and channel stuffing, causing significant stock decline.
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