Berman Tabacco represents Employees Retirement System of the State of Rhode Island (“ERSRI”) in this derivative action against the Board of Directors and certain officers of Emergent BioSolutions, Inc. This case alleges that Emergent’s Board and management failed to implement any internal compliance or sterility testing programs, such that the Board was not even informed as the government and customer inspectors found repeated safety violations, lax quality control procedures, and a failure to take steps to ensure vaccine safety. The failure of the Board to exercise oversight led to the destruction of tens of millions of doses of Johnson & Johnson and AstraZeneca COVID-19 vaccine at a time when supplies of the vaccine were critically low—leading to untold harm to Emergent. The Court stayed this action pending securities class action litigation pending in the United States District of Maryland arising from related facts.
