Recent Security Class Actions

Ginkgo Bioworks Holdings Inc. Class A Common Stock (NYSE: DNA)

Company Name:Ginkgo Bioworks Holdings Inc. Class A Common Stock
Stock Symbol:NYSE: DNA
Class Period Start:05/11/2021
Class Period End (inclusive):10/05/2021

The Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Company’s failure to derive real revenue from third-party customers left it almost completely dependent on related parties; (2) as a result, most, if not all, of the Company’s revenue came from related parties the Company created, funded, or controlled through its ownership and board seats; (3) the Company was misclassifying and underreporting related party revenue in order to conceal the Company’s near total-dependence on related parties; (4) many of the Company’s new R&D partners are undisclosed related parties and/or façades; (5) as a result, the Company’s valuation was significant less than Defendants disclosed to investors; and (6) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.