Key Takeaways:
NEW YORK — Bleichmar Fonti & Auld LLP announced an investigation into ADMA Biologics, Inc. (NASDAQ:ADMA) for potential securities fraud after a critical research report wiped 29% off the company's stock price.
The investigation follows a March 24, 2026, report from Culper Research alleging that ADMA Biologics engaged in a "channel stuffing scheme" to mask deteriorating demand for its flagship product, ASCENIV. The report claims ADMA induced a distributor to "stock excess ASCENIV by offering rebates and extended payment terms in order to meet order expectations."
ADMA's stock price fell from $13.59 per share on March 23, 2026, to $9.63 per share on March 25, a two-day decline of $3.96, or 29%. Culper Research alleges that without the channel stuffing, ADMA's 2025 revenue would have shown a 3% decline instead of the 20% growth the company reported.
The Culper Research report, titled “ADMA Biologics Inc (ADMA): Channel Stuffing, an Undisclosed Related Party Distributor, and –3% Real Growth in 2025 vs. +20% Reported,” provided the basis for the investigation. The research firm asserts that the biopharmaceutical company's reported revenue growth was not supported by genuine demand.
ADMA Biologics is an end-to-end commercial biopharmaceutical company whose main product, ASCENIV, is a liquid immune globulin solution for treating Primary Humoral Immunodeficiency.
Bleichmar Fonti & Auld LLP (BFA), a law firm specializing in securities class actions, is now soliciting information from investors who may have been affected. The firm has a history of securing large settlements, including recoveries from Tesla, Inc. and Teva Pharmaceutical Ind. Ltd.
The investigation may lead to a class-action lawsuit against ADMA Biologics. Investors who purchased ADMA stock may have legal options and are encouraged to contact the firm. Representation is offered on a contingency fee basis, meaning there is no cost to the shareholders.
This article is for informational purposes only and does not constitute investment advice.
