GlobeNewswire Inc | Nov 1, 2021 04:51PM EDT

November 01, 2021

NEW YORK, Nov. 01, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Ginkgo Bioworks Holdings, Inc. (Ginkgo or the Company) (NYSE:DNA). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Ginkgo and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

[Click here for information about joining the class action]

On October 6, 2021, Scorpion Capital published a report about Ginkgo alleging that it is a "colossal scam." It describes the Company's business model is a "shell game," and that the company is highly dependent on related party transaction revenues. The report also calls the company is a "Frankenstein mash-up of the worst frauds of the last 20 years."

On this news, Ginkgos stock price fell $1.39 per share, or 8.55%, to close at $10.59 per share on October 6, 2021.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

CONTACT:Robert S. WilloughbyPomerantz LLPrswilloughby@pomlaw.com888-476-6529 ext. 7980