ADMA Securities News: ADMA Biologics Investigated for Securities Fraud After Culper Research Report Revelation Sparks 29% Stock Drop

Core Viewpoint - ADMA Biologics is under investigation for potential securities fraud following a report by Culper Research, which alleged that the company's reported 20% revenue growth in 2025 was artificially inflated through a channel stuffing scheme, leading to a 29% drop in its stock price [1][3][4]. Company Overview - ADMA Biologics is a biopharmaceutical company focused on manufacturing and developing specialty biologics, with its flagship product being ASCENIV, a liquid immune globulin solution for treating Primary Humoral Immunodeficiency [2]. Investigation Details - Bleichmar Fonti & Auld LLP is investigating ADMA Biologics for potential violations of federal securities laws, specifically regarding allegations of channel stuffing to misrepresent revenue figures [2][3]. - The investigation was prompted by a report from Culper Research, which claimed that ADMA Biologics induced a distributor to stock excess ASCENIV by offering rebates and extended payment terms, allowing the company to report growth that did not exist [3]. Stock Performance - Following the allegations, ADMA Biologics' stock price fell from $13.59 per share on March 23, 2026, to $9.63 per share on March 25, 2026, marking a decline of $3.96 per share or 29% [4].