SAN DIEGO, November 24, 2021–(BUSINESS WIRE)–Shareholder rights law firm Robbins LLP informs investors that a class action was filed on behalf of all persons and entities that purchased Ginkgo Bioworks Holdings, Inc. f/k/a Soaring Eagle Acquisition Corp. (NYSE: DNA) securities between May 11, 2021 and October 5, 2021. The complaint alleges violations of the Securities Exchange Act of 1934. Ginkgo purportedly operates a horizontal platform for cell programming, designed to enable biological production of products as diverse as novel therapeutics, key food ingredients, and chemicals currently derived from petroleum.

If you suffered a loss due to Ginkgo Bioworks Holdings, Inc.’s misconduct, click here.

Ginkgo Bioworks Holdings, Inc. (DNA) Failed to Disclose its Related Party Revenue

According to the complaint, on May 11, 2021, the Company announced it would combine with Soaring Eagle to form Ginkgo Bioworks Holdings, Inc. During the class period, defendants failed to disclose that: (i) 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; (ii) the Company was misclassifying and underreporting related party revenue in order to conceal the Company’s near total-dependence on related parties; and (iii) many of the Company’s new R&D partners were undisclosed related parties or facades.

On October 6, 2021, Scorpion Capital released a report alleging that Ginkgo is a “colossal scam,” and…

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