NEW YORK, NY / ACCESSWIRE / October 18, 2021 / Labaton Sucharow, a nationally ranked and award-winning shareholder rights firm, is investigating potential violations of the federal securities laws by Ginkgo Bioworks Holdings, Inc. (NYSE:DNA).
On October 6, 2021, short seller Scorpion Capital released a report alleging that Ginkgo Bioworks Holdings is a "colossal scam." The 175-page report alleges that Ginkgo Bioworks' business model is a "shell game," and that the company is highly dependent on related party transaction revenues. The report charges that the company is a "Frankenstein mash-up of the worst frauds of the last 20 years."
Ginkgo Bioworks Holdings went public via a deSPAC transaction with blank check company Soaring Eagle Acquisition Corporation in September 2021.
Shares in Ginkgo Bioworks have fallen 20% after publication of the report.
If you currently own stock or options in Ginkgo Bioworks Holdings, Inc. and suffered a loss, click here to participate.
If you want to receive additional information and protect your investments free of charge, please contact David J. Schwartz using the toll-free number (800) 321-0476 or via email at [email protected].
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Labaton Sucharow LLP is one of the world's leading complex litigation firms representing clients in securities, antitrust, corporate governance and shareholder rights, and consumer cybersecurity and data privacy litigation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at labaton.com.
CONTACT:
David J. Schwartz
(800) 321-0476
[email protected]
SOURCE: Labaton Sucharow LLP