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Investors with losses exceeding $100,000 are encouraged to contact the firm
LOS ANGELES, August 13, 2021--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz reminds investors of the upcoming August 16, 2021 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Ocugen, Inc. ("Ocugen" or the "Company") (NASDAQ: OCGN) securities between February 2, 2021 and June 10, 2021, inclusive (the "Class Period").
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.
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If you purchased or otherwise acquired Ocugen securities during the Class Period, you may move the Court no later than August 16, 2021 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action 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 action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, 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 firstname.lastname@example.org, 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.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20210813005043/en/