PR Newswire
From August 2024 through March 2026, ADMA Biologics allegedly filed seven consecutive SEC reports containing false internal control certifications and omitted related party sales, while channel stuffing inflated ASCENIV revenues from $92.6 million to $362.5 million.
NEW YORK, June 24, 2026 /PRNewswire/ — Levi & Korsinsky, LLP encourages investors who suffered losses in ADMA Biologics, Inc. (NASDAQ: ADMA) to contact the firm.
August 8, 2024. ADMA files its Q2 2024 Report disclosing purchases from GenesisBPS but omitting sales to Genesis BioPharma Services. November 7, 2024. The Q3 2024 Report repeats the same omission. March 18, 2025. The 2024 Annual Report certifies internal controls as effective. March 24, 2026. Culper Research publishes findings alleging channel stuffing turned reported 20% growth into an estimated 3% decline. Between these dates, investors purchased ADMA (NASDAQ: ADMA) shares without knowledge of what was allegedly occurring behind the scenes.
WHO IS AFFECTED: Those who purchased ADMA securities between August 9, 2024 and March 25, 2026 may be entitled to recover damages. Find out if you are eligible to recover losses or contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.
ASCENIV reported net revenue reached $362.5 million in 2025, up from $92.6 million in 2023. Culper Research estimates that absent channel stuffing, revenues actually declined 3% year-over-year versus the 20% growth the Company reported. The window to apply for lead plaintiff closes on August 10, 2026.
August 8, 2024: The Pattern Begins
The Company filed its Q2 2024 quarterly report with SOX certifications attesting to the accuracy of financial reporting and the disclosure of all fraud. The filing disclosed $0.1 million in purchases from GenesisBPS, an entity owned by the Grossman family. The lawsuit contends the filing omitted sales to the similarly named Genesis BioPharma Services, which operated out of ADMA’s own corporate headquarters in Ramsey, New Jersey.
November 7, 2024 Through August 6, 2025: Quarterly Repetition
The securities action alleges that each subsequent quarterly filing repeated the same pattern:
- November 7, 2024 (Q3 2024 Report): Disclosed $0.2 million in GenesisBPS purchases; omitted Genesis BioPharma Services sales
- May 7, 2025 (Q1 2025 Report): Certified internal controls as effective; disclosed $34 thousand in GenesisBPS purchases; again omitted Genesis BioPharma Services
- August 6, 2025 (Q2 2025 Report): Repeated internal control effectiveness certification and revenue recognition disclosures while allegedly shipping unwanted ASCENIV inventory
- November 5, 2025 (Q3 2025 Report): Filed identical internal control certifications; noted Genesis ownership “until September 30, 2025”
February 25, 2026: The Final Annual Report
The 2025 Annual Report stated ASCENIV net revenues of $362.531 million. Management again certified disclosure controls as effective. As claimed in the filing, the report disclosed only purchases from GenesisBPS while allegedly concealing the sales relationship with Genesis BioPharma Services.
March 24, 2026: The Corrective Disclosure
Culper Research published its report alleging a de facto channel stuffing scheme and an undisclosed related party distributor. Culper stated that ADMA’s “reported growth is a fiction” and estimated real revenue declined 3% in 2025. ADMA shares declined following publication.
“Timely disclosure of material developments is fundamental to fair and efficient markets. The chronology here raises questions about whether investors received accurate information across seven consecutive SEC filings spanning nearly two years.” — Joseph E. Levi, Esq.
Submit your claim before the deadline or call (212) 363-7500.
ABOUT THE FIRM — For over two decades, Levi & Korsinsky has represented shareholders in securities class actions. Ranked in ISS Top 50 for seven consecutive years. Those wishing to serve as lead plaintiff must act by August 10, 2026.
Frequently Asked Questions About the ADMA Lawsuit
Q: When did ADMA Biologics allegedly mislead investors? A: The class period runs from August 9, 2024 to March 25, 2026. The complaint alleges false statements appeared in seven consecutive SEC filings during this period, each containing allegedly misleading internal control certifications and incomplete related party disclosures.
Q: What specific misstatements does the ADMA lawsuit allege? A: The complaint alleges ADMA made materially false or misleading statements regarding the effectiveness of its internal controls, its revenue recognition practices for ASCENIV, and its related party transactions with Genesis BioPharma Services during the class period.
Q: What do ADMA investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at [email protected] or (212) 363-7500. No immediate action is required to remain eligible as a class member.
Q: What if I already sold my ADMA shares — can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the class period and sold at a loss may still participate.
Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.
Q: What court was the ADMA class action filed in? A: The case was filed in the United States District Court for the District of New Jersey.
Q: What if I missed the lead plaintiff deadline? A: The deadline applies only to investors seeking lead plaintiff appointment. Class members who miss it can still participate in any settlement or recovery.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
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SOURCE Levi & Korsinsky, LLP
