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LOS ANGELES, Feb. 09, 2023 (GLOBE NEWSWIRE) — The law firm of Portnoy advises Twist Bioscience Corporation (“TWST”) TWST Investors that a lawsuit has been filed on behalf of investors who have purchased securities of Twist Bioscience Corporation, Inc TWST between December 13, 2019 and November 14, 2022.

Investors are encouraged to contact an attorney Lesley F Portnoyby phone 844-767-8529 or E-mail: lesley@portnoylaw.comto discuss your legal rights, or Click here to join the case about www.portnoylaw.com. Portnoy Law Firm can provide a free case assessment and discuss investors’ options for making claims to recover their losses.

Twist is a biotechnology company specializing in the manufacture of synthetic DNA and DNA products. During the class action, the defendants repeatedly emphasized to investors that the company had innovative proprietary technology that would lead to significant growth, reported increasing gross margins, and announced plans to build a large manufacturing facility in Oregon with projected annual capital expenditures of between $95 and $100 $ to 100 million dollars. However, on November 15, 2022, a report by Scorpion Capital claimed that Twist was not in good financial shape and was actually conducting a fraud by misrepresenting capital expenditures and gross margins. The report also claimed that Twist’s growth was based on unsustainable pricing strategies, that their technology was not profitable, and that the company operated a Ponzi-like scheme that would end in bankruptcy. Twist’s share price fell 20% after the disclosure. The lawsuit states that the defendants made false and misleading claims and failed to disclose negative information about the company, resulting in harm to the plaintiff and other members of the class.

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