Case Summary

Ocugen

NASDAQ: OCGN

Case Details

  • Patterson v. Ocugen, Inc. et al.
  • Class Period:May 08, 2020 - April 01, 2024
  • Date Filed:April 11, 2024
  • Jurisdiction:U.S. District Court, Eastern District of Pennsylvania
  • Docket Number: 2:24-cv-01500
  • Lead Plaintiff Deadline: June 10, 2024
Days Left to
Seek Plaintiff
16

Overview

A class action lawsuit has been filed against Ocugen, Inc. (“Ocugen” or the “Company”) (NASDAQ: OCGN) and certain of the Company’s current and former senior executive officers alleging violations of the Securities Exchange Act of 1934. The Ocugen lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired publicly traded Ocugen securities between May 8, 2020 and April 1, 2024 , both dates inclusive (the “Class Period”) and investors have until June 10, 2024, to seek appointment as lead plaintiff of the Ocugen class action lawsuit.

Ocugen, Inc. is a biopharmaceutical company. The Company is focused on discovering, developing, and commercializing gene and cell therapies, biologics, and vaccines that improve health for patients across the globe.

The lawsuit alleges that Defendants made false and/or misleading statements and/or failed to disclose 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’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times.

On April 1, 2024, after the market closed, Ocugen announced that the Audit Committee of the Board of Directors, based on the recommendation of management and after consultation with Ernst & Young Global Limited (“EY”), concluded that the Company’s previously-issued audited consolidated financial statements for each fiscal year beginning January 1, 2020 and its previously-issued unaudited interim condensed consolidated financial statements for each of the first three quarters in such years, as well as the associated earnings releases and investor presentations or other communications describing such financial statements, were materially misstated and, accordingly, should no longer be relied upon. On this news, Ocugen’s stock fell $0.16 per share, or 10.38%, to close at $1.38 per share on April 2, 2024, damaging investors.

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If you purchased or otherwise acquired publicly traded Ocugen securities between May 8, 2020, and April 1, 2024, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as a lead plaintiff in the Ocugen lawsuit is June 10, 2024.

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