Portnoy Law: Lawsuit Filed On Behalf of Ocugen, Inc. Investors
to join the case
LOS ANGELES, June 22, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Ocugen, Inc. (“Ocugen” or “the Company”) (NASDAQ : OCGN) investors that acquired securities between February 2, 2021 and June 2, 2021.
The investigation focuses on whether Ocugen issued misleading and/or false statements and/or failed to disclose information pertinent to investors. On May 26, 2021, Ocugen announced that it planned to submit to the FDA an Emergency Use Authorization (“EUA”) application for COVAXIN, a COVID-19 vaccine, in June 2021. On June 10, 2021, Ocugen announced that it “will no longer pursue an Emergency Use Authorization (EUA) for COVAXIN,” instead choosing to “pursue submission of a biologics license application (BLA) for its COVID-19 vaccine candidate, COVAXIN.” Ocugen’s Chairman and CEO stated, “Although we were close to finalizing our EUA application for submission, we received a recommendation from the FDA to pursue a BLA path,” and that “this will extend our timelines.” Shares of Ocugen fell by more than 24% in intraday trading on the same day, based on this news.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar