A securities class action has been filed against ADMA Biologics, Inc. (ADMA) on behalf of persons or entities who purchased or otherwise acquired publicly traded ADMA Biologics securities between August 9, 2024 through March 25, 2026. This case has been filed in the USDC – NJ.
On March 24, 2026, Culper Research published a short report on ADMA, alleging that “ADMA’s reported growth is a fiction driven more than entirely by a de facto channel stuffing scheme and an undisclosed related party distributor” and “estimat[ing] that, absent channel stuffing, ADMA revenues declined 3% in 2025 vs. +20% reported.” Following publication of the Culper report, ADMA’s stock price fell $2.26 per share, or 16.63%, to close at $11.33 per share on March 24, 2026.
Then, on March 26, 2026, Cantor Fitzgerald downgraded ADMA, citing disappointment with the Company’s response to the Culper report, which Cantor Fitzgerald found lacking in “specific feedback addressing the direct claims in the report.” Following the downgrade, ADMA’s stock price fell $1.34 per share, or 13.91%, to close at $8.29 per share on March 26, 2026.
Then, on May 6, 2026, ADMA withdrew its long-term financial guidance, citing evolving U.S. plasma products and immunoglobulin market competitive dynamics. On this news, ADMA’s stock price fell $1.61 per share, or 15.97%, to close at $8.47 per share on May 7, 2026.