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SAN DIEGO, July 28, 2021 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces the filing of the Ocugen, Inc. class action lawsuit, which charges Ocugen, Inc. (NASDAQ: OCGN) and certain of its top executives with violations of the Securities Exchange Act of 1934 and seeks to represent purchasers of Ocugen securities between February 2, 2021 and June 10, 2021, inclusive (the “Class Period”). The Ocugen class action lawsuit (Nicanor v. Ocugen, Inc., No. 21-cv-02725) was commenced on June 17, 2021 in the Eastern District of Pennsylvania and is assigned to Judge C. Darnell Jones, II.
If you suffered substantial losses and wish to serve as lead plaintiff of the Ocugen class action lawsuit, please provide your information by clicking here. You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at firstname.lastname@example.org. Lead plaintiff motions for the Ocugen class action lawsuit must be filed with the court no later than August 17, 2021.
CASE ALLEGATIONS: The Ocugen class action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) the information that Ocugen submitted to the U.S. Food and Drug Administration (“FDA”) was insufficient to support an Emergency Use Authorization (“EUA”); (ii) Ocugen would not file an EUA with the FDA; and (iii) as a result, Ocugen’s financial statements, as well as defendants’ statements about Ocugen’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
On June 10, 2021, Ocugen issued a press release announcing that it would pursue a biologics license application (“BLA”) with the FDA instead of the previously announced EUA. In doing so, Ocugen revealed that “[t]he FDA provided feedback to Ocugen regarding the Master File the Company had previously submitted and recommended that Ocugen pursue a BLA submission instead of an EUA application for its vaccine candidate and requested additional information and data. Ocugen is in discussions with the FDA to understand the additional information required to support a BLA submission. The Company anticipates that data from an additional clinical trial will be required to support the submission.” On this news, the price of Ocugen’s stock fell more than 28%, damaging investors.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Ocugen securities during the Class Period to seek appointment as lead plaintiff in the Ocugen class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts 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 Ocugen class action lawsuit. An investor’s ability to share in any potential future recovery of the Ocugen class action lawsuit is not dependent upon serving as lead plaintiff.
ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: With 200 lawyers in 9 offices nationwide, Robbins Geller Rudman & Dowd LLP is the largest U.S. law firm representing investors in securities class actions. Robbins Geller attorneys have obtained many of the largest shareholder recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. The 2020 ISS Securities Class Action Services Top 50 Report ranked Robbins Geller first for recovering $1.6 billion for investors last year, more than double the amount recovered by any other securities plaintiffs’ firm. Please visit https://www.rgrdlaw.com/firm.html for more information.
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Robbins Geller Rudman & Dowd LLP
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J.C. Sanchez, 800-449-4900