An investigation on behalf of investors of Oasmia Pharmaceutical AB (publ) (OASM) shares over potential securities laws violations by Oasmia Pharmaceutical AB and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Oasmia Pharmaceutical AB (publ) (OASM) concerning whether a series of statements by Oasmia Pharmaceutical AB (publ) (OASM regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Sweden based Oasmia Pharmaceutical AB develops, manufactures, markets, and sells drugs in the field of human and veterinary oncology primarily in Sweden. On July 9, 2019, post-market, Oasmia reported that it had terminated its engagement and cooperation with former executive chairman Julian Aleksov without further pay, following a tax audit that revealed missing funds connected to suspicious transactions between Oasmia and companies controlled by Aleksov and his former father-in-law. Shares of Oasmia Pharmaceutical AB (publ) (NASDAQ: OASM) declined from $5.06 per share in November 2018 to as low as $1.78 per share on July 11, 2019.