A class action lawsuit has been filed against ADMA Biologics and certain senior executives for securities fraud. The suit alleges that the company's reported 20% growth for 2025 was driven by a channel stuffing scheme involving its flagship product ASCENIV, and that ADMA failed to disclose related party transactions. On March 24, 2026, Culper Research published a report claiming that without the alleged scheme, ADMA would have experienced a 3% revenue decline instead of the reported 20% growth, causing the stock to drop 16.6% that day and a further 15% the next day. A subsequent analyst downgrade on March 26 led to an additional 13.9% decline. Investors have until August 10, 2026, to seek lead plaintiff appointment in the case, which is pending in the U.S. District Court for the District of New Jersey.
ADMA Biologics IncSecurities fraud class action lawsuit alleging channel stuffing and related party transactions, causing stock drops and analyst downgrade.