Le Lézard
Classified in: Business
Subject: ATY

SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against Ocugen, Inc. - OCGN


NEW YORK, April 20, 2024 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Ocugen, Inc. ("Ocugen" or the "Company") (NASDAQ: OCGN).  Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

The class action concerns whether Ocugen and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until June 10, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Ocugen securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.     

[Click here for information about joining the class action]

On April 1, 2024, after the market closed, Ocugen filed a Current Report on Form 8-K with the United States ("U.S.") Securities and Exchange Commission revealing that, in connection with the preparation of the Company's financial statements for the year ended December 31, 2023, Ocugen identified certain accounting errors related to the application of U.S. GAAP to certain agreements with one of its business partners related to a collaboration agreement and 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 (the "Restated Periods"), 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 and will be restated.  In additional, Ocugen indicated that it had determined that the errors resulted from the existence of a material weakness in its internal control over financial reporting that also existed during the Restated Periods and that its internal control over financial reporting was not effective as of December 31, 2023.  As a result, the Company's Chief Executive Officer and Chief Accounting Officer concluded that the Ocugen's disclosure controls and procedures were not effective as of December 31, 2023. 

On this news, Ocugen's stock price fell $0.16 per share, or 10.38%, to close at $1.38 per share on April 2, 2024.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.   

Attorney advertising.  Prior results do not guarantee similar outcomes.  

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

SOURCE Pomerantz LLP


These press releases may also interest you

at 12:45
GameChange Solar, a leading global supplier of solar mounting and tracking solutions for ground-mounted PV plants, has seen a significant surge in interest in its fixed-tilt racking systems over the past year. Several key factors drive the growing...

at 12:44
Copper Cane Wines & Spirits is thrilled to announce its role as the official wine partner for the New York Mets, Boston Red Sox, Texas Rangers, San Diego Padres, and Atlanta Braves for the 2024 MLB season....

at 12:43
Isabella Bank Corporation today announced its Board of Directors declared a second-quarter cash dividend of $0.28 per common share at its regular meeting on May 29, 2024.  The dividend will be payable June 28, 2024 to shareholders of record as of...

at 12:41
Redwood Investment Management is proud to announce its sponsorship of Altruist Academy, an exclusive workshop for Registered Investment Advisors (RIAs)....

at 12:31
Plural Energy, the on-chain investing platform powering the global transition to clean energy, today announces: $2.33 million in...

at 12:30
Complex, the definitive platform for global youth culture and music lifestyle, has announced its acquisition of Family Style Food Festival, the first-ever festival at the intersection of food and streetwear with a heavy hitting curated lineup of the...



News published on and distributed by: