Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Exscientia plc (EXAI)

/EIN News/ -- NEW YORK, April 30, 2024 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the District of New Jersey on behalf of all persons and entities who purchased securities of Exscientia plc (“Exscientia” or the “Company”) (NASDAQ: EXAI) between March 23, 2022 and February 12, 2024, inclusive (the “Class Period”).

The Complaint alleges that Defendants failed to disclose that: (1) defendant Hopkins (former Exscentia CEO and Director) had engaged in improper relationships with employees that were inconsistent with the Company’s standards and values; (2) defendant Nicholson (former Exscentia COB) had prior knowledge of 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; and (4) the foregoing failures subjected the Company to a heightened risk of disruptive leadership transitions and/or reputational harm.

When the Company revealed the truth on February 13, 2024, its stock price fell $1.72 per share, or 22.9%, to close at $5.79 per share on February 13, 2024.

Investors who purchased or otherwise acquired shares of Exscientia should contact the Firm prior to the June 25 2024 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.