Emergent BioSolutions Faces Shareholder Lawsuit from Illinois Safety Pension Fund
Posted on 07/01/2021
Illinois-based Lincolnshire Police Pension Fund filed a lawsuit in the U.S. District Court in Baltimore against Emergent BioSolutions Inc. and various officers and directors, alleging fiduciary breaches and violations of law in the operation of the company’s Bayview facility. In April 2021, the U.S. Food and Drug Administration (FDA) inspected the Bayview facility, where the company was producing the Johnson & Johnson COVID-19 vaccine. The FDA discovered numerous problems and production was soon suspended.
The lawsuit contends Emergent BioSolutions violated its fiduciary duties and insider trading laws, and ignored poor quality controls at the plant.
