The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Ocugen, Inc. (OCGN)
THE ANGEL–(BUSINESS WIRE) – Frank R. Cruz law firm is reminding investors of the upcoming August 16, 2021 deadline to file a lead plaintiff in the case filed on behalf of investors Ocugen, Inc. (“Ocugen” or the ” Company “)) (NASDAQ: OCGN) securities between February 2, 2021 and June 10, 2021, inclusive (the” Class Period “).
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Ocugen is a biopharmaceutical company. Under an agreement with Bharat Biotech, Ocugen has exclusive rights to develop, manufacture and commercialize COVAXIN, a vaccine candidate for COVID-19.
On June 10, 2021, Ocugen announced that it would file a Biologics License Application (“BLA”) for COVAXIN, which has a longer approval process than an Emergency Authorization (“EUA”) application, and that an additional one is expected conduct clinical trial attempt to support the submission.
As a result of 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, hurting investors.
The lawsuit filed alleges that during the class action period, defendants made materially false and / or misleading statements and failed to disclose material adverse facts about the company’s business, operations and prospects. In particular, Defendants have failed to disclose to investors that: (1) the information presented to the FDA was insufficient to support an EEA; (2) Ocugen would not file an emergency clearance with the FDA; and (3) as a result, Defendants’ statements about its business, operations and prospects were materially false and misleading and / or were inadequate at all relevant times.
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If you have purchased or otherwise acquired Ocugen securities during the class action period, you may request the court to appoint you as the lead plaintiff in this alleged class action no later than August 16, 2021. To become a member of the class action, you do not need to take any action at this point; You can hire a lawyer of your choice or you can take no action and remain an absent member of the class action. If you would like to learn more about this class action or have any questions about this announcement or your rights or interests in relation to the pending class action, please contact Frank R. Cruz of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars , Suite 1100, Los Angeles, California 90067, 310-914-5007, by email at email@example.com or visit our website at www.frankcruzlaw.com. For inquiries by e-mail, please include your postal address, telephone number and the number of shares purchased.
This press release may be viewed as a solicitation in some jurisdictions subject to applicable laws and ethical rules.