Ocular Therapeutix, Inc.
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The Pawar Law Group announces a class action lawsuit on behalf of General Cable Corporation (BGC) investors who purchased General Cable stock between May 5, 2017 and July 11, 2017, inclusive (the “Class Period”). The suit is for recovery of investor losses.
No class has been certified in the above action yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
According to the complaint, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Ocular’s management has been misleading investors about DEXTENZA manufacturing issues, including that more than 50% of lots manufactured by Ocular contain bad product; (2) such manufacturing issues could imperil the approval of DEXTENZA by the FDA; and (3) as a result, Defendants’ public statements were materially false and misleading at all relevant times. On July 6, 2017, Seeking Alpha published an article concerning DEXTENZA manufacturing issues. On that same day, STAT published an article asserting that DEXTENZA could be rejected by the FDA because of product contamination. On this news, shares of Ocular Therapeutix fell $3.06 per share or over 30% over two trading days to close at $7.12 per share on July 7, 2017, damaging investors. On July 11, 2017, Ocular disclosed that it received a Complete Response Letter from the FDA stating “that the FDA has determined that it cannot approve the NDA in its present form.” On this news, shares of Ocular fell $0.93 per share or over 12% to close at $6.67 per share on July 12, 2017, further damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than September 5, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. You may join the case here: http://pawarlawgroup.com/cases/ocular or email Vik Pawar, Esq. at firstname.lastname@example.org
Vik Pawar, Esq.
Pawar Law Group
20 Vesey Street, Suite 1210
New York, NY 10007
Tel: (212) 571-0805
Fax: (212) 571-0938