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, and that it failed to disclose related party transactions. On March 24, 2026, Culper Research published a report claiming ADMA induced a distributor to stock excess ASCENIV through rebates and extended payment terms, and that without this scheme revenue would have declined 3% instead of growing 20%. The news caused ADMA's stock to drop 16.6% on March 24, 2026, and a further 15% the following day. Investors have until August 10, 2026, to seek lead plaintiff appointment in the case pending in the U.S. District Court for the District of New Jersey.
ADMA Biologics IncSecurities fraud lawsuit and alleged channel stuffing scheme causing stock drop.