Law Offices of Howard G. Smith reminds investors of the upcoming June 25, 2024 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Exscientia p.l.c. (“Exscientia” or the “Company”) (NASDAQ: EXAI) securities between March 23, 2022 and February 12, 2024, inclusive (the “Class Period”).
Investors suffering losses on their Exscientia investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com.
On February 13, 2024, Exscientia announced that its CEO and Principal Executive Officer, Andrew Hopkins, had been terminated following an investigation which found that he had “engaged in relationships with two employees that the Board determined were inappropriate and inconsistent with the Company’s standards and values.” The Company also disclosed that the Chairman of the Company’s Board of Directors, David Nicholson, “had prior knowledge of the existence of the earlier of Dr. Hopkins’ relationships and had addressed the situation directly, and with the involvement of other outside counsel, rather than in consultation with the Board,” and “[f]ollowing discussions with the Board, on February 12, 2024 Dr. Nicholson tendered his resignation from his positions with the Company.”
On this news, Exscientia’s stock price fell $1.72, or 22.9%, to close at $5.79 per share on February 13, 2024, thereby injuring investors.
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) Defendant Hopkins had engaged in improper relationships with employees that were inconsistent with the Company’s standards and values; (2) Defendant Nicholson had prior knowledge of Defendant Hopkins’s relationships and had improperly addressed Hopkins’s misconduct without consulting the Board; (3) the Company’s maintenance and enforcement of its Code of Business Conduct and Ethics was inadequate to safeguard against the foregoing conduct; (4) the foregoing failures subjected the Company to a heightened risk of disruptive leadership transitions and/or reputational harm; and (5) 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.
If you purchased or otherwise acquired Exscientia securities during the Class Period, you may move the Court no later than June 25, 2024 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20240509129179/en/
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
