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Ocular Therapeutix Inc (NASDAQ: OCUL) Investor Securities Class Action Lawsuit 07/07/2017

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Lawsuit Overview

Case Dismissed
Company
Ocular Therapeutix Inc
Security
NASDAQ: OCUL

Case Name
Ocular Therapeutix Shareholder Class Action Lawsuit 07/07/2017
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the District of Massachusetts

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

April 9, 2020 - The Court of Appeals affirmed the court's dismissal judgement.

May 31, 2019 - A notice of appeal was filed.

April 3, 2019 - The court granted the defendants' motion to dismiss.

July 6, 2018 - A motion to dismiss the amended consolidated complaint was filed.

May 7, 2018 - An amended consolidated complaint was filed.

October 27, 2017 - The case was transferred to the U.S. District Court for the District of Massachusetts.

July 7, 2017 - An investor in shares of Ocular Therapeutix Inc (NASDAQ: OCUL) filed a lawsuit over alleged violations of Federal Securities Laws by Ocular Therapeutix Inc in connection with certain allegedly false and misleading statements made between May 5, 2017 and July 6, 2017.

According to the complaint the plaintiff alleges on behalf of purchasers of Ocular Therapeutix Inc (NASDAQ: OCUL) common shares between May 5, 2017 and July 6, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between May 5, 2017 and July 6, 2017 Ocular Therapeutix Inc issued false and/or misleading statements and/or failed to disclose that Ocular Therapeutix Inc’s management has been misleading investors about DEXTENZA manufacturing issues, including that more than 50% of lots manufactured by Ocular Therapeutix Inc contain bad product that such manufacturing issues could imperil the approval of DEXTENZA by the FDA, and that as a result, defendants’ public statements were materially false and misleading at all relevant times.

Bedford, MA based Ocular Therapeutix Inc is a biopharmaceutical company that is focused on the development and commercialization of therapies for diseases and conditions of the eye using its hydrogel platform technology.

On May 5, 2017, Ocular Therapeutix Inc disclosed that the U.S. Food and Drug Administration (“FDA”) had found minor issues at its manufacturing plant, but downplayed any concerns.

On July 6, 2017, an article was published asserting that Ocular Therapeutix Inc’s management has been misleading investors about manufacturing issues, including that more than 50% of lots manufactured by Ocular Therapeutix Inc contain bad product.

Shares of Ocular Therapeutix Inc (NASDAQ: OCUL) declined on July 7, 2017 to as low as $6.72 per share.