ADMA Biologics Faces Securities Fraud Lawsuit Over Growth Claims

The complaint, Mazzarino v. ADMA Biologics, Inc., et al., alleges that the company violated the Securities Exchange Act of 1934 by misrepresenting its financial health. Plaintiffs claim that ADMA’s reported 20% growth for 2025 was largely artificial, driven by a scheme to inflate sales of its flagship immune globulin product, ASCENIV. According to a report by Culper Research, ADMA allegedly incentivized distributors to stockpile excess inventory through rebates and extended terms to meet internal targets. Had these practices not occurred, the firm would have reportedly faced a 3% revenue decline.

The market reaction to these disclosures was immediate and severe. On March 24, 2026, ADMA shares dropped 16.6%, followed by a 15% decline the next day. A subsequent downgrade by Cantor Fitzgerald further pressured the stock, pushing it down another 13.9% by March 29. Bleichmar Fonti & Auld LLP, the firm representing the class, is now seeking to consolidate claims from affected shareholders. Investors wishing to serve as lead plaintiffs in the case have until August 10, 2026, to petition the court.