Following this news, the price of Berkeley Lights common shares fell over 18% on September 15, 2021. On September 15, 2021, Scorpion Capital published a short-seller report on Berkeley Lights. In the report, Scorpion Capital alleged, among other things, that “a trail of customers who allege they were ‘tricked,’ misled, or over-promised into buying a $2 million lemon. The reality is so far from BLI’s grandiose hype that we believe its product claims and practices may constitute outright fraud.” Additionally stating, “We conducted 24 research interviews, including 7 former employees and executives of BLI, as well as 17 scientists and users across 14 of BLI’s largest customers. We believe the customers we spoke with comprise >30-50% of BLI’s entire installed base of 92 cell screening systems. We believe our research may represent the most in-depth due diligence to date on BLI, leading us to conclude it is just another vaporous venture capital IPO promotion with zero underlying value.”
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If you have information that could assist in this investigation, including past employees and others, or a Berkeley Lights shareholder and are interested in learning more about the investigation, please contact Jim Baker (firstname.lastname@example.org) by email or phone at 619-814-4471. If emailing, please include a phone number. Additionally, you can . There is no cost or obligation to you.
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