Twist Bioscience Leaders Sued Over Growth, Tech Misstatements

Twist Bioscience Corp.’s executives and directors allegedly misled investors about the company’s growth potential, which prompted a 20% stock drop following revelations about the synthetic DNA maker’s financial situation, a shareholder derivative suit says.

The suit alleges that current and former officers, as well as board members, misrepresented the potential of a proprietary technology it was developing in disclosures between December 2019 and November 2022.

Ambitious growth projections linked to the purportedly revolutionary technology for synthetic DNA products and stated plans to manufacture in an advanced new facility, artificially inflated the company’s stock prices, according to the suit filed ...