Pension Fund Sues Emergent Executives for Covid Vaccine Bungle

An Illinois pension fund sued Emergent Biosolutions Inc.'s directors and officers, alleging unjust enrichment and breach of fiduciary duties leading up to the contamination of up to 15 million Johnson & Johnson coronavirus vaccine doses earlier this year.

Emergent and investors were “hammered by the Company’s deficient internal controls,” the Lincolnshire, Ill., Police Pension Fund said in a complaint filed Tuesday in the U.S. District Court for the District of Maryland. But some of the defendants sold millions in company stock on the basis of nonpublic information, it said.

Emergent won contracts in 2020 from Johnson & Johnson and AstraZeneca ...