Robbins LLP is Investigating the Allegations that Exscientia P.L.C.’s (EXAI) Former CEO’s Conduct Violated the Company’s Code of Business Conduct
Robbins LLP informs investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Exscientia P.L.C. (NASDAQ: EXAI) securities between March 23, 2022 and February 12, 2024. Exscientia in an artificial intelligence (“AI”) driven Pharma-tech company that engages in the design and develop differentiated medicines for diseases with high unmet patient needs.
The Allegations
According to the complaint, during the class period, defendants failed to disclose that: (i) defendant Hopkins (former Exscientia CEO and Director) had engaged in improper relationships with employees that were inconsistent with the Company’s standards and values; (ii) defendant Nicholson (former Exscientia COB) had prior knowledge of Hopkins’s relationships and had improperly addressed Hopkins’s misconduct without consulting the Board; (iii) the Company’s maintenance and enforcement of its Code of Business Conduct and Ethics was inadequate to safeguard against the foregoing conduct; and (iv) the foregoing failures subjected the Company to a heightened risk of disruptive leadership transitions and/or reputational harm.
When Exscientia revealed the truth on February 13, 2024, the Company’s stock price fell $1.72 per share, or 22.9%, to close at $5.79 per share on February 13, 2024.
What Now: You may be eligible to participate in the class action against Exscientia P.L.C. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by June 25, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.