NEW YORK, March 30, 2017 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been commenced in the United States District Court for the District of Massachusetts on behalf of purchasers of OvaScience, Inc. (Nasdaq: OVAS ) (“OvaScience” or the “Company”) securities during the period between January 8, 2015 and March 26, 2015, inclusive (the “Class Period”).
Investors who have incurred losses in OvaScience, Inc. s hares are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com .
If you have purchased shares of OvaScience, Inc. and would like to assist with the litigation process, you may, no later than May 26, 2017 , request that the Court appoint you lead plaintiff of the proposed class.
The filed complaint focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that:
- the science behind AUGMENT, a treatment specifically designed to improve a patient's egg health, had not been scientifically validated;
- the Company was unable to achieve the success rates it claimed;
- the reasons why the Company moved its studies outside of the United States; and
- as a result, the Company’s profitability and prospects were false and misleading.
On March 26, 2015, the Company disclosed that nine of the twenty-six women who received the AUGMENT treatment in Canada had achieved a pregnancy, a success rate of only approximately 35%.
Subsequently, on March 27, 2015, analysts for Leerink Partners LLC, stated that AUGMENT’s “[o]verall pregnancy rate appears less robust with a different denominator” and “the magnitude of AUGMENT benefit is unclear given no clear benchmarks and lack of standardized metrics.”
On March 28, 2015, the Company disclosed that only two of the eight women who received the AUGMENT treatment in Turkey achieved a pregnancy, a success rate of only 25%, which was comparable to the success rate achieved for women undergoing in vitro fertilization (“IVF”) without AUGMENT.
As a result of these disclosures, shares of OvaScience significantly declined, causing harm to investors.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com , or visit our website at www.whafh.com .
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Contact: Wolf Haldenstein Adler Freeman & Herz LLP Kevin Cooper, Esq. Gregory Stone, Director of Case and Financial Analysis Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com Tel: (800) 575-0735 or (212) 545-4774
