Shareholder Investigation Concerning Alleged Corporate Misconduct at ADMA Biologics, Inc.

Grabar Law Office is investigating whether certain officers and directors of ADMA Biologics, Inc. (“ADMA” or the “Company”) breached their fiduciary duties to shareholders.

ADMA is a commercial-stage biopharmaceutical company headquartered in Ramsey, New Jersey that develops, manufactures, and markets specialty biologics used in the treatment of immunodeficient patients and certain infectious diseases.

Investigation Focus

Grabar Law Office is investigating allegations that ADMA's officers and directors failed to implement and maintain adequate internal controls and oversight mechanisms concerning the Company's revenue recognition practices, related-party transactions, and public disclosures.

According to publicly filed allegations, ADMA allegedly:

• Failed to disclose certain related-party transactions involving entities allegedly associated with Company insiders;
• Engaged in practices that allegedly inflated reported revenue through channel-stuffing activities;
• Maintained inadequate internal accounting and disclosure controls;
• Made materially misleading statements concerning the effectiveness of internal controls and financial reporting;
• Failed to provide shareholders with accurate information concerning the Company's business operations, revenues, and prospects; and
• Exposed the Company to significant legal, regulatory, reputational, and financial risk.

The investigation concerns whether ADMA's directors and officers breached their fiduciary duties of loyalty, good faith, oversight, disclosure, and candor owed to ADMA and its shareholders.

March 2026 Report Raises Concerns

On March 24, 2026, a research report publicly challenged ADMA's reported growth and alleged that the Company had engaged in channel-stuffing practices and failed to disclose a material related-party distribution relationship. The report further alleged that ADMA's reported revenue growth was materially overstated and that substantial product inventory had accumulated within distribution channels.

Following publication of these allegations, investors questioned the accuracy of the Company's public disclosures and the effectiveness of its internal controls and governance practices.

Potential Corporate Governance Issues

The investigation is focused on whether ADMA's board of directors and senior management:

• Failed to properly oversee financial reporting and revenue recognition practices;
• Failed to establish and maintain effective disclosure controls and procedures;
• Permitted the Company to engage in undisclosed related-party transactions;
• Failed to ensure compliance with securities laws and Nasdaq governance requirements;
• Approved or disseminated materially misleading public statements; and
• Exposed the Company to shareholder litigation and potential regulatory scrutiny.

Shareholders Are Encouraged to Contact Grabar Law Office

If you are a current ADMA shareholder, have continuously held ADMA shares, or have information concerning the matters described above, you may contact Grabar Law Office to discuss your rights.

Shareholders may be able to pursue claims on behalf of the Company against officers and directors responsible for alleged corporate wrongdoing and to seek corporate governance reforms designed to protect the Company and its shareholders.

About Grabar Law Office

Grabar Law Office represents institutional and individual investors in shareholder derivative litigation, securities litigation, and corporate governance matters throughout the United States. The firm has extensive experience prosecuting claims involving breaches of fiduciary duty, inadequate corporate oversight, misleading disclosures, insider misconduct, and failures of corporate governance.

For additional information concerning this investigation, please contact:

Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
(267) 507-6085
jgrabar@grabarlaw.com