Bronstein, Gewirtz & Grossman, LLC Investigates Potential Claims Against Lifecore Biomedical, Inc.
On March 16, 2025, Bronstein, Gewirtz & Grossman, LLC, a leading securities fraud class action law firm, announced that it is investigating potential claims on behalf of purchasers of Lifecore Biomedical, Inc. (Lifecore or the Company) (NASDAQ: LFCR). The investigation concerns whether Lifecore and certain of its officers and directors have violated the federal securities laws.
Background
Lifecore Biomedical, Inc. is a contract development and manufacturing organization (CDMO) that provides services to the biopharmaceutical industry. The Company’s services include the development, manufacturing, and packaging of therapeutic proteins and monoclonal antibodies.
The Allegations
The investigation focuses on whether Lifecore and its executives made false and misleading statements regarding the Company’s business, operations, and financial condition. Specifically, the firm is investigating whether the defendants failed to disclose: (1) deficiencies at Lifecore’s manufacturing facilities, (2) the impact of these deficiencies on the Company’s ability to meet customer demand, and (3) the Company’s dependence on a few key customers.
Timeline of Events
The investigation covers purchasers of Lifecore securities during the Class Period, which is from January 2, 2020, to October 7, 2020. On October 7, 2020, the Company disclosed that the U.S. Food and Drug Administration (FDA) had issued a Form 483 inspection report regarding deficiencies at its Bloomington, Minnesota, facility. The FDA identified several issues, including failure to adequately investigate and document deviations from established processes, failure to maintain adequate records, and failure to ensure that the manufacturing processes were in a state of control.
Impact on Investors
The revelation of these deficiencies at Lifecore’s manufacturing facilities led to a significant decline in the Company’s stock price. As a result, investors who purchased Lifecore securities prior to October 7, 2020, and continue to hold to the present, may have suffered substantial losses.
Impact on the World
The investigation into Lifecore Biomedical, Inc. highlights the importance of transparency and regulatory compliance in the biopharmaceutical industry. The FDA’s inspection report underscores the potential risks associated with substandard manufacturing practices, which can lead to delays in bringing critical therapeutics to market and, ultimately, compromise patient safety.
Conclusion
Bronstein, Gewirtz & Grossman, LLC continues to investigate potential claims against Lifecore Biomedical, Inc. and encourages investors who purchased Lifecore securities during the Class Period to obtain additional information and assist the investigation. This investigation is an important reminder of the need for transparency and regulatory compliance in the biopharmaceutical industry. As the investigation progresses, further developments will be reported.
- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims against Lifecore Biomedical, Inc.
- The investigation concerns whether Lifecore and its executives made false and misleading statements.
- The Class Period is from January 2, 2020, to October 7, 2020.
- The FDA identified several deficiencies at Lifecore’s manufacturing facilities.
- The revelation of these deficiencies led to a significant decline in Lifecore’s stock price.
- The investigation is an important reminder of the need for transparency and regulatory compliance in the biopharmaceutical industry.
