Emergent BioSolutions (EBS) to Settle Securities Class Action Litigation

Emergent BioSolutions Inc. (NYSE: EBS) today announced that it has entered into an agreement to resolve the previously disclosed securities class action litigation pending in the United States District Court for the District of Maryland (In re Emergent BioSolutions Inc. Security Litigation, No. 8:21-cv-00955-DLB). This lawsuit was originally filed in 2021.

Under the terms of the proposed settlement, Emergent will pay $40 million, which will be substantially paid from insurance proceeds, to settle claims brought on behalf of stockholders who purchased Emergent’s common stock between March 10, 2020, and November 4, 2021. The proposed settlement, which is subject to court approval, includes no admission of liability or wrongdoing by Emergent or any current or former Emergent officers, directors or employees and will resolve all claims against the Company and other defendants in this matter.

“While Emergent believes that the legacy securities class action was without merit, we are pleased to have reached this agreement,” said Joe Papa, president and chief executive officer of Emergent. “Today’s announcement is a major step toward allowing us to move past this matter so we can continue focusing on our multiyear plan to turnaround and transform the business.”

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