SHAREHOLER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Ocugen, Inc. of Class Action Lawsuit and Upcoming Deadline

NEW YORK, August 3, 2021 / PRNewswire / – Pomerantz LLP announces that a class action lawsuit has been filed against Ocugen, Inc. (“Ocugen” or the “Company”) (NASDAQ: OCGN) and some of its officers. The class action filed in The United States District Court for the Eastern District of Pennsylvania, and registered under 21-cv-03182, is on behalf of a class consisting of all natural and legal persons other than the defendant, the securities of Ocugen between. bought or otherwise acquired February 2, 2021, and June 10, 2021, including (the “Class Period”) to seek compensation for violations of federal securities laws under Sections 10 (b) and 20 (a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated against the company and certain of its top officials under this contract.

For over 85 years in the fight for victims of securities fraud (PRNewsfoto / Pomerantz LLP)

If you are a shareholder who has purchased or otherwise acquired Ocugen securities during the Class Action Period, you will have until 17th August 2021 ask the court to appoint you as the lead plaintiff for the class action. A copy of the complaint is available at www.pomerantzlaw.com. To discuss this action, please contact Robert S. Willoughby at newaction@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, extension. 7980. Inquiries by email are encouraged to include their postal address, telephone number, and the number of shares purchased.

[Click here for information about joining the class action]

Ocugen identifies itself as a biopharmaceutical company focused on developing gene therapies to cure blindness and developing a vaccine to save lives from COVID-19. The company’s major developments are a nuclear hormone receptor-based modifier gene therapy platform to develop therapies for patients with hereditary retinal diseases and dry age-related macular degeneration.

The lawsuit alleges that during the class action period, defendants made essentially false and misleading statements about the company’s business, operational and compliance policies. In particular, these statements were false and / or misleading statements and / or failed to disclose that: (i) the information submitted to the FDA was insufficient to support an EEA, (ii) Ocugen did not receive an emergency approval from the FDA (iii) As a result of the foregoing, the Company’s financial statements and Defendant’s statements regarding the business, operations and prospects of Ocugen were false, misleading and / or unfounded.

The story goes on

on February 2, 2021, Ocugen issued a press release announcing an agreement with Bharat Biotech International Limited (“Bharat”), a biotechnology company headquartered in Hyderabad, India. Under the agreement, Ocugen has obtained an exclusive right and license under certain intellectual property rights from Bharat, with the right to sub-license to develop, manufacture and commercialize COVAXINTM, an inactivated vaccine candidate / product for advanced full virions for the prevention of COVID-19 in humans in the United States of America.

On the news, the company’s share price skyrocketed from the end of the year $ 1.81 per share of the Ocugen share on February 1, 2021, to close $ 3.26 per share February 2, 2021, an increase of around 80.1 percent.

on February 5, 2021After the market closed, Ocugen filed a Form 8-K with the Securities and Exchange Commission. Enclosed with Form 8-K as Exhibit 99.1 was an investor presentation about the company’s seemingly new mission to “develop a vaccine to save lives from COVID-19”. The presentation detailed the properties of the Covaxin vaccine, the “unmet need for The United States“and Ocugen’s plan to develop and file an Emergency Authorization (” EUA “) with the US Food and Drug Administration (” FDA “).

on June 10, 2021, Ocugen published a press release announcing that instead of the previously announced EUA, an “application for a biologics license” would be submitted to the FDA.

At the time the news was released, the company’s share price fell from $ 9.31 per share of the Ocugen share on June 9, 2021, to close $ 6.69 per share June 10, 2021, a decrease of about -28.14 percent.

The Pomerantz company with offices in new York, Chicago, The angel, and Paris is recognized as one of the leading law firms in the areas of corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, known as the dean of class actions, Pomerantz was a pioneer in the field of securities class actions. Today, more than 80 years later, the Pomerantz law firm continues the tradition he founded and fights for the rights of victims of securities fraud, breaches of duty of loyalty and corporate misconduct. The company has collected numerous millions of dollars in damages on behalf of class members. See www.pomerantzlaw.com

CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980

Cision

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SOURCE Pomerantz LLP