ADMA Biologics Faces Class Action Lawsuit Over Revenue Allegations

The complaint, filed in the U.S. District Court for the District of New Jersey under the caption Mazzarino v. ADMA Biologics, Inc., et al., asserts that the company and its senior executives violated the Securities Exchange Act of 1934. Plaintiffs allege that management induced distributors to stockpile excess inventory through rebates and extended payment terms to mask declining market demand. According to a report by Culper Research, this practice allowed the company to report 20% growth for 2025, while actual performance would have reflected a 3% revenue decline.

Market reaction to the disclosures was immediate and severe. On March 24, 2026, ADMA shares fell 16.6%, followed by an additional 15% drop the next day. A subsequent downgrade by Cantor regarding these concerns triggered further losses, pushing the share price to $8.29 by March 29. The law firm Bleichmar Fonti & Auld LLP is representing the investors and has set an August 10, 2026, deadline for those seeking to be appointed as lead plaintiff in the case.