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StocksMediumUpdated×4•Originally published 25 March 2026•Updated 26 March 2026•

1 min read

ADMA Biologics Rebuts Misleading Short-Seller Report by Culper Research

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Key Facts

1ADMA Biologics addressed a report issued by Culper Research, describing it as misleading and containing inaccurate statements.

2 months ago

Version History

4 additional sources confirmed this story

Version 42 months ago

What changed: A new law firm joined the investigations, and specific details regarding "channel stuffing" and the alleged 23% revenue growth discrepancy were clarified.

Version 32 months ago

What changed: A second law firm (Frank R. Cruz) has joined the ongoing legal investigations into potential securities law violations by the company.

Version 22 months ago

What changed: The story was updated to include the launch of a legal investigation by Ademi LLP into potential securities fraud claims, adding regulatory pressure to the company.

Version 12 months ago

What changed: Updated the story to include the 27% stock decline, technical oversold indicators, and positive consensus among analysts regarding earnings revisions.

ADMA Biologics continues to defend its position against a "misleading" report by Culper Research, as Holzer & Holzer, LLC joins several law firms launching legal investigations into the company. The specific allegations have intensified, focusing on "channel stuffing" practices and the use of an undisclosed related party distributor. Furthermore, the report alleges a significant discrepancy in financial reporting, claiming 2025 revenues actually declined by 3% instead of the 20% growth reported by ADMA. Despite these mounting legal challenges, technical indicators suggest the stock remains in oversold territory, potentially signaling a price reversal. Wall Street analysts maintain a bullish outlook, raising earnings estimates in a show of confidence in the company's fundamentals. ADMA’s management remains firm in its denial, asserting strict adherence to GAAP standards and SEC regulations while dismissing the claims as market manipulation.