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The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Ocugen, Inc. (OCGN) Investors

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Investors with losses exceeding $100,000 are encouraged to contact the firm

LOS ANGELES, July 20, 2021 /PRNewswire/ -- The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Ocugen, Inc. ("Ocugen" or the "Company") (NASDAQ: OCGN) securities between February 2, 2021 and June 10, 2021, inclusive (the "Class Period"). Ocugen investors have until August 16, 2021, to file a lead plaintiff motion.

(PRNewsfoto/The Law Offices of Frank R. Cru)
(PRNewsfoto/The Law Offices of Frank R. Cru)

If you are a shareholder who suffered a loss, click here to participate.

Ocugen is a biopharmaceutical company. Pursuant to an agreement with Bharat Biotech, Ocugen has the exclusive right to develop, manufacture, and commercialize COVAXIN, a vaccine candidate for COVID-19.

On June 10, 2021, Ocugen announced that it would submit a biologics license application ("BLA") for COVAXIN, which has a longer approval process than an Emergency Use Authorization ("EUA") application, and that it anticipated conducting an additional clinical trial to support the submission.

On this news, the Company's share price fell $2.62 per share, or 28%, to close at $6.69 per share on June 10, 2021, thereby injuring investors.

The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the information submitted to the FDA was insufficient to support an EUA, (2) Ocugen would not file an Emergency Use Authorization with the FDA; and (3) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Follow us for updates on Twitter: twitter.com/FRC_LAW.

If you purchased Ocugen securities during the Class Period, you may move the Court no later than August 16, 2021, to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you purchased Ocugen securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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SOURCE The Law Offices of Frank R. Cruz, Los Angeles