The litigation, Mazzarino v. ADMA Biologics, Inc., stems from accusations that the pharmaceutical company engaged in channel stuffing and undisclosed related-party transactions to artificially inflate revenue figures. According to the complaint, these practices created a deceptive appearance of growth, leaving investors with a distorted view of the firm’s operational health and internal controls.
The scrutiny intensified on March 24, 2026, when Culper Research released a report alleging that ADMA induced distributors to stockpile excess product through rebates and extended payment terms. The report claimed this strategy allowed the company to book revenue for products that remained unsold. Following the report, ADMA shares plummeted 29.1% over two trading days, closing at $9.63 on March 25, 2026. Kessler Topaz Meltzer & Check, LLP is currently advising affected shareholders on their legal rights and potential recovery options.
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