The litigation follows a March 2026 investigative report by Culper Research, which claimed ADMA Biologics utilized "channel stuffing" to artificially inflate revenue figures. The report alleged that the company induced distributors to stockpile its ASCENIV product through rebates and extended payment terms, masking what would have been a 3% revenue decline as a 20% growth increase. Following the report's release, the company’s stock price dropped 29% over two trading days.

Legal firm Faruqi & Faruqi, LLP is currently representing investors in the case, which asserts that the company engaged in undisclosed related-party transactions and lacked necessary internal oversight. Shareholders interested in participating or seeking appointment as lead plaintiff are encouraged to contact partner James (Josh) Wilson to review their legal options. Participation in the class action does not require an investor to serve as lead plaintiff, and those who do not step forward remain members of the putative class.