The law firm Bleichmar Fonti & Auld LLP announced it is investigating ADMA Biologics for potential violations of federal securities laws. The investigation centers on allegations that the company may have misled investors regarding its revenue growth. This action follows a March 24, 2026 report by short-seller Culper Research.
The report alleged ADMA engaged in a "channel stuffing scheme" to inflate its 2025 revenue, making it appear the company had 20% growth when it should have reported a 3% decline. Following the March report, ADMA's stock price dropped 29% over two days. The law firm is now encouraging investors who purchased ADMA stock to contact them regarding the ongoing investigation.