The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of shareholders who purchased or otherwise acquired ADMA Biologics, Inc. (“ADMA” or the “Company”) (NASDAQ: ADMA) securities between August 9, 2024 and March 25, 2026, inclusive (the “Class Period”). ADMA investors have until August 10, 2026 to file a lead plaintiff motion.

What Happened?

On March 24, 2026, Culper Research published a report alleging “Channel Stuffing, an Undisclosed Related Party Distributor, and –3% Real Growth in 2025 vs. +20% Reported.” Among other things, the report stated that “two high-level employees at one of ADMA’s two largest distributors,” had confirmed independently that “starting in 2025, ADMA induced the distributor to stock excess ASCENIV by offering rebates and extended payment terms in order to meet order expectations. Distributors take unwanted product without having to pay for it, ADMA books the revenues, and reports growth that was never there.”

On this news, ADMA’s stock price fell $3.96, or 29.1%, over two consecutive trading days to close at $9.63 per share on March 25, 2026, thereby injuring investors.

What Is The Lawsuit About?

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) ADMA engaged in an undisclosed related party transaction; (2) ADMA used channel stuffing to create an appearance of revenue; (3) ADMA lacked adequate internal controls; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.