Monksdream
1 year ago
Twist Bioscience Corp NASDAQ: TWST
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Health Care : Biotechnology | Small Cap GrowthCompany profile
Twist Bioscience Corporation is a synthetic biology company. The Company has developed a disruptive DNA synthesis platform. The core of its platform is a proprietary technology that pioneers a new method of manufacturing synthetic DNA by writing DNA on a silicon chip. The Company utilizes its technology to manufacture a range of synthetic DNA-based products, including synthetic genes, tools for sample preparation and antibody libraries for drug discovery and development. The Company's product lines, synthetic biology tools and NGS tools, addresses different needs of its customers across a range of applications, such as synthetic genes, oligo pools, SARS-CoV-2 tools, and DNA libraries. Its synthetic biology products include Synthetic genes and gene fragments, Oligonucleotide, or Oligo pools for CRISPR gene editing. The NGS products are used for diagnostic tests for various indications like SARS-CoV-2.
jgrabar
2 years ago
Twist shareholders who have held company stock since before December 13, 2019, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award at no cost to them whatsoever.
https://grabarlaw.com/the-latest/twist-bioscience-shareholder-investigation/
It is alleged, in several class actions, that the Company and certain of its officers overstated the commercial viability of Twist Bioscienceโs synthetic DNA manufacturing technology while engaging in accounting fraud and using unsustainable pricing to inflate Twist Bioscienceโs true financial condition and prospects.
Unlike a class action, brought on behalf of investors, a shareholder derivative action or demand is brought by a shareholder of a public company on behalf of and for the benefit of the company itself. In a derivative action, shareholders โstep into the shoesโ of the directors and officers of a company and bring litigation that the board would be unwilling to pursue on its own. Shareholder derivative litigation can recover damages back to the company for financial or reputational harm caused by the conduct of its insiders, and also can be used to improve the governance of public companies in order to guard against such harms in the future.