An investor in shares of Organovo Holdings, Inc. (NASDAQ: ONVO) filed a lawsuit against members of the board of directors of Organovo Holdings, Inc over alleged breaches of fiduciary duties.

The plaintiff alleges that disclosures made by Organovo and its Board of Directors in the Companys proxy statement related to its 2019 annual meeting of stockholders are false and misleading.

San Diego, CA based Organovo Holdings, Inc., a biotechnology company, develops bioprinted human tissues based on its 3D human tissue platform technology that emulate human biology and diseases. Organovo Holdings, Inc. reported that its Total Revenue declined from $4.6 million for the 12 months period that ended on March 31, 2018 declined to $3.09 million for the 12 months period that ended on March 31, 2019, and that its Net Loss over those time periods increased from $34.8 million to $26.63 million.