Synthetic DNA manufacturer Twist Bioscience and its top officers were hit with a securities class action on Monday in California Northern District Court. The suit, brought by Kessler Topaz Meltzer & Check, accuses the defendants of overstating the value of the company’s DNA chip technology and operating a Ponzi-like scheme to ‘create the illusion of growth.’ Counsel have not yet appeared for the defendants. The case is 3:22-cv-08168, Peters v. Twist Bioscience Corp. et al.
This suit was surfaced by Law.com Radar, a source for high-speed legal news and litigation updates personalized to your practice. Law.com Radar publishes daily updates on just-filed federal cases like this one. Click here to get started and be first to know about new suits in your region, practice area or client sector.
