ADMA Biologics Faces Monday Deadline for Lead Plaintiff Applications

The lawsuit, captioned Mazzarino v. ADMA Biologics, Inc., centers on allegations that the biopharmaceutical firm utilized channel stuffing to artificially inflate revenue figures. The complaint claims that ADMA Biologics failed to disclose a related party transaction and lacked sufficient internal oversight during the designated period. These allegations gained traction following a March 2026 report by Culper Research, which characterized the company’s reported growth as a fiction driven by extended payment terms and undisclosed distribution arrangements. The stock price dropped more than 16% following the release of these findings.

ADMA Biologics publicly countered the report, labeling the allegations as speculative and inaccurate. However, following a subsequent downgrade by Cantor Fitzgerald—which moved the stock from Overweight to Neutral—the share price fell an additional 13%. Robbins Geller Rudman & Dowd LLP, the firm representing the plaintiffs, is now coordinating the application process for investors seeking to serve as lead plaintiff. Under the Private Securities Litigation Reform Act, the court will appoint an investor with a significant financial interest to represent the class. Participation in the lawsuit does not require serving as the lead plaintiff, though those interested in the role must submit their information to legal counsel by the August 10 deadline.