The complaint centers on allegations that ADMA Biologics utilized channel stuffing to artificially boost revenue reports and failed to disclose a material relationship with Genesis BioPharma Services, an entity reportedly operating from the company's own headquarters. These practices allegedly obscured the firm's true financial health and internal control deficiencies.

The case gained momentum following a report by Culper Research on March 24, 2026, which challenged the company's 20 percent reported growth against a calculated 3 percent real growth. Following the report, ADMA shares plummeted 16.6 percent on March 24, followed by another 15 percent drop the next day, closing at $11.33 per share on March 25. Robbins LLP is managing the litigation on a contingency fee basis, meaning shareholders incur no out-of-pocket expenses for participation.