TWST - TWIST ALERT: Bragar Eagel & Squire P.C. is Investigating Twist Bioscience Corp on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm | Benzinga
NEW YORK, Oct. 05, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Twist Bioscience Corp (NASDAQ:TWST) on behalf of long-term stockholders following a class action complaint that was filed against Twist on December 12, 2022 with a Class Period from December 13, 2019 to November 14, 2022. Our investigation concerns whether the board of directors of Twist have breached their fiduciary duties to the company.
Twist, a Delaware corporation with its principal executive offices in South San Francisco, California, is a biotechnology company that manufactures synthetic DNA and DNA products. Synthetic DNA products allow users to design and modify DNA for the purposes of academic research, enhancing specialty chemical production, and developing healthcare treatments, among other uses. Twist's common stock trades in the United States on the Nasdaq Global Select Market ("NASDAQ") under the ticker symbol "TWST."
Throughout the Class Period, Defendants repeatedly assured investors that the Company possessed innovative proprietary technology relating to its synthetic DNA products that positioned Twist for significant future growth. Indeed, Defendants claimed that the Company had already achieved substantial growth during the Class Period, growing from a customer base of approximately 1,300 diagnostic companies, hospitals, research institutions, and others at the end of fiscal year 2019, to approximately 2,900 customers at the end of fiscal year 2021.
Similarly, Defendants reported skyrocketing gross margins, which purportedly grew from 12.8% in fiscal year 2019, to 39.1% in fiscal ...