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OCGN.US
id: 1184

Ocugen, Inc. (OCGN) Report Restatement Case

E.D. Pennsylvania
Court
2:24-cv-01500
Case number
08 May 2020
Class period Start
01 Apr 2024
Class period End
11 Jun 2024
Lead Plaintiff motion deadline
  • $OCGN stockholder filed a claim against Ocugen for filing false reports with the SEC.
  • On April 1, 2024, Ocugen notified the SEC about late filing, intending to restate all annual and quarterly statements for 2022 and 2023.
  • On it, $OCGN fell 10.4%, losing $41M+ shareholder value.
On April 1, 2024, Ocugen filed with the SEC a Notification of Late Filing, stating that in preparation of the financial statements for 2023, the Company identified certain accounting errors. As a result, Ocugen intends to restate its financial statements for the year ended December 31, 2022, and for each of the first three quarters of 2022 and 2023 in 2023, the review and preparation of which is currently ongoing.

On this news, $OCGN fell 10.4% and lost over $41 million of its market capitalization, seriously damaging shareholders.

Considering all the information, investors might have grounds to suspect OCGN of inaccurate SEC reporting, which led to their losses.
Case Status
Lead Plaintiff Submission
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
02 April 2024
Filing date
11 April 2024
Lead Plaintiff Deadline
11 June 2024
Collecting participants…

Ocugen Inc

Ocugen, Inc., a clinical-stage biopharmaceutical company, focuses on the developing gene therapies to cure blindness diseases. The company's pipeline product includes OCU400, a novel gene therapy p...

    Ticker
    OCGN.US
    ISIN
    US67577C1053
    CIK
    1372299
    Sector
    Healthcare
    Industry
    Biotechnology
    Country
    USA
    Address
    263 Great Valley Parkway, Malvern, PA, United States, 19355