An investigation on behalf of investors of Ocugen, Inc. (NASDAQ: OCGN) shares over potential securities laws violations by Ocugen, Inc. 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 Ocugen, Inc. (NASDAQ: OCGN) concerning whether a series of statements by Ocugen, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Malvern, PA based Ocugen, Inc., a clinical-stage biopharmaceutical company, focuses on the developing gene therapies to cure blindness diseases.

On May 26, 2021, Ocugen, Inc. announced its plan to submit an Emergency Use Authorization (EUA) application for COVAXIN, a COVID-19 vaccine, to the U.S. Food & Drug Administration (FDA) in June 2021.

Then on June 10, 2021, Ocugen, Inc. said it would no longer pursue a EUA for Covaxin and would instead aim to file for a full U.S. approval of the shot.

Shares of Ocugen, Inc. (NASDAQ: OCGN) declined from $11.01 per share on June 8, 2021 to $5.96 per share on June 14, 2021.