Policemen’s Annuity and Benefit Fund of Chicago Defeats Twist Bioscience Motion to Dismiss
Kehoe Law Firm, P.C. is proud to announce that its client, the Policemen’s Annuity and Benefit Fund of Chicago (“PABF”), court-appointed lead plaintiff in the Twist Bioscience Corporation Securities Class Action, has taken a significant step forward in the pursuit of justice.
On September 3, 2025, Judge Eumi K. Lee of the U.S. District Court for the Northern District of California denied in part Defendants’ motion to dismiss the securities fraud class action Peters v. Twist Bioscience Corporation. The Amended Complaint alleges that Twist and several members of its senior management misrepresented that the company possessed effective and efficient technology capable of producing synthetic DNA at higher quality and lower cost than its competitors. Judge Lee concluded that the complaint sufficiently pleaded claims under Section 10(b) of the Securities Exchange Act of 1934 and Section 11 of the Securities Act of 1933.
Significantly, Judge Lee rejected Defendants’ argument that the complaint failed to adequately allege loss causation—i.e., that Defendants’ misstatements caused investors’ losses—because the alleged corrective disclosure came in the form of a short-seller report. Judge Lee agreed with PABF’s position that Ninth Circuit law permits a corrective disclosure to originate from any source, including a short-seller report, so long as the allegations plausibly suggest that the disclosure revealed the truth and contributed to the company’s stock price decline.
The case will now proceed to discovery.
About Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is a nationally recognized, plaintiff-side class action firm dedicated to protecting investors and consumers from fraud and misconduct. Our attorneys have served as Lead or Co-Lead Counsel in major securities cases, recovering over $10 billion for institutional and individual investors.
Our firm litigates securities fraud, fiduciary breaches, unfair mergers and acquisitions, and antitrust violations, while also representing whistleblowers and advocating for victims of data breaches, consumer fraud, vehicle and product defects, employment law violations, retirement plan mismanagement, and other corporate and business misconduct. With a results-driven approach, we pursue justice and substantial recoveries for those we represent.
Kehoe Law Firm’s class action legal services are provided on a contingency-fee basis, meaning clients are not responsible for any fees or litigation expenses.
SEND US A MESSAGE
Contact Us
ADDRESS
Kehoe Law Firm, P.C.
2001 Market Street
Suite 2500
Philadelphia, PA 19103