Overview

A class action lawsuit has been filed against ADMA Biologics, Inc. (“ADMA” or the “Company”) (NASDAQ : ADMA), and certain of the Company’s senior officers (collectively, “Defendants”), alleging violations of the federal securities laws. The ADMA lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired ADMA securities between August 9, 2024, and March 25, 2026, inclusive (the “Class Period”). Investors have until August 10, 2026, to seek appointment as lead plaintiff of the ADMA class action lawsuit.

ADMA is a commercial biopharmaceutical company that manufactures and markets specialty biologics used to treat immunodeficient patients and others at risk for certain infectious diseases. The Company’s flagship product, ASCENIV, is an intravenous immune globulin therapy that ADMA repeatedly identified as a key driver of revenue growth and financial performance.

According to the complaint, throughout the Class Period, Defendants repeatedly assured investors that the Company maintained effective internal controls and accurately reported revenue associated with ASCENIV sales. Defendants allegedly represented that revenue was recognized when products reached customers and disclosed certain related-party transactions involving GenesisBPS, an entity affiliated with Company insiders.

The complaint alleges that these statements were materially false and misleading because ADMA allegedly engaged in a channel-stuffing scheme designed to inflate reported revenue growth by inducing distributors to purchase excess quantities of ASCENIV through rebates and extended payment terms. Investors further claim that the Company failed to disclose a material related-party distribution relationship involving Genesis BioPharma Services, an entity allegedly affiliated with ADMA Vice Chairman Jerrold Grossman that purportedly operated from the same address as ADMA’s corporate headquarters.

The truth began to emerge on March 24, 2026, when Culper Research published a report alleging that ADMA’s reported growth was driven by channel stuffing and an undisclosed related-party distributor. Culper asserted that absent the alleged channel-stuffing practices, ADMA would have reported declining revenue growth rather than the growth figures disclosed to investors. The report also alleged that Genesis BioPharma Services served as an undisclosed distributor of ASCENIV despite purported ties to Company insiders and its operation from ADMA’s corporate headquarters.

Following publication of the report, ADMA’s stock price fell more than 16% on March 24, 2026, and declined an additional 15% on March 25, 2026. Although the Company issued a statement disputing the report’s allegations, investors remained concerned about the issues raised. On March 26, 2026, Cantor Fitzgerald downgraded ADMA stock, citing concerns regarding the Company’s response to the allegations, accounts receivable trends, and questions surrounding reported revenue growth and cash flow. Following the downgrade, ADMA’s stock price fell nearly 14%.

*          *          *

If you purchased or otherwise acquired ADMA securities between August 9, 2024, and March 25, 2026, and you wish to serve as lead plaintiff in this lawsuit, you are encouraged to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt attorneys Brian O’Mara and Hani Farah by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as a lead plaintiff in the ADMA class action lawsuit is August 10, 2026.