(OCGN) Ocugen Class Action Alert: Investors With Losses Over $250,000 Interested in Being a Lead Plaintiff – Contact Johnson Fistel
SAN DIEGO- GlobeNewswire—June 18, 2021
Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Ocugen, Inc. (“Ocugen” or the “Company”) (NASDAQ: OCGN). The class action is on behalf of shareholders who purchased Ocugen between February 2, 2021 and June 10, 2021, both dates inclusive (the “Class Period”). If you wish to serve as lead plaintiff in this class action, you must move the Court no later than August 17, 2021.
The Complaint alleges that Defendants made materially false and misleading statements and/or failed to disclose that: (1) the information submitted to the FDA was insufficient to support a EUA; (2) the Company would not file an Emergency Use Authorization with the FDA; (3) as a result of the foregoing, the Company’s financial statements, as well as Defendants’ statements about the Company’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On June 10, 2021, the Company announced that it would “no longer pursue an emergency use authorization” for its COVID-19 vaccine candidate, Covaxin, and would instead go through the process of obtaining full approval. The Company said that the decision was “based on a recommendation from the U.S. Food and Drug Administration,” which also “requested more information and data” for approval. The news shocked the market, as the Company had previously indicated that it intended to apply for emergency use authorization.
When the true details entered the market, the lawsuit claims that investors suffered damages.
A lead plaintiff will act on behalf of all other class members in directing the Ocugen class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class action lawsuit. An investor’s ability to share any potential future recovery is not dependent upon serving as lead plaintiff.
If you are an Ocugen shareholder and have losses greater than $250,000, and are interested in learning more about being a lead plaintiff, please contact Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.
Additionally, you can [click here to join this action]. There is no cost or obligation to you.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471