BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Ocugen, Inc. (“Ocugen” or the “Company”) (NASDAQ: OCGN) securities between May 8, 2020 and April 1, 2024, inclusive (the “Class Period”). Ocugen investors have until June 10, 2024 to file a lead plaintiff motion.
Investors suffering losses on their Ocugen investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
On April 1, 2024, Ocugen disclosed that it had identified certain accounting errors related to certain agreements with one of its business partners regarding a collaboration agreement. The Company also disclosed that its previously-issued financial statements for each fiscal year beginning January 1, 2020 should no longer be relied upon and will be restated.
On this news, Ocugen’s stock price fell $0.16, or 10.4%, to close at $1.38 per share on April 2, 2024, thereby injuring investors.
The complaint filed in this class action 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) Ocugen’s financial statements from May 8, 2020 to the present were materially misstated; (2) Ocugen did not have adequate internal controls; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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