NEW YORK, July 12, 2017 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed in the United States District Court for the District of New Jersey on behalf of purchasers of Ocular Therapeutix, Inc. (NASDAQ: OCUL ) securities between May 5, 2017 and July 6, 2017 (the “Class Period”), inclusive.
Investors who have incurred losses in Ocular Therapeutix, Inc. 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 Ocular Therapeutix, Inc., you may , no later than September 5, 2017, request that the Court appoint you lead plaintiff of the proposed class.
The filed Complaint alleges that throughout the Class Period, the Company made false and/or misleading statements and/or failed to disclose that:
- Ocular Therapeutix’s management has been misleading investors about DEXTENZA manufacturing issues, including that more than 50% of lots manufactured by Ocular Therapeutix contain bad product;
- such manufacturing issues could imperil the approval of DEXTENZA by the U.S. Food and Drug Administration (FDA); and
- as a result, Defendants’ public statements were materially false and misleading at all relevant times.
On July 6, 2017, Seeking Alpha published an article claiming that Ocular had been misleading investors about manufacturing issues with its product, DEXTENZA, including the claim that more than 50% of the lots manufactured by Ocular contained bad product.
Following this news, shares of Ocular Therapeutix fell $3.06 over two trading days, or over 30%, to close at $7.12 per share on July 7, 2017.
On July 11, 2017, following the close of trading, Ocular Therapeutix received a complete response letter (CRL) from the FDA for DEXTENZA, saying it wasn’t able to approve the New Drug Application (NDA) in its current form. As a result of this disclosure, the shares traded as low as $5.50 per share on July 12 th .
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
