Lawsuit Overview
August 24, 2018 - The case was voluntarily dismissed.
November 22, 2017 - An investor in shares of OvaScience Inc (NASDAQ:OVAS) filed a lawsuit in the U.S. District Court for the District of Massachusetts over alleged violations of Sections 11, 12(a), and 15 of the Securities Act of 1933 in connection with in the Company’s January 8, 2015 Secondary Offering
According to the complaint the plaintiff alleges that the Defendants violated provisions of the Securities Act by issuing false and misleading statements to investors, including in filings with the U.S. Securities and Exchange Commission (“SEC”). More specifically, the plaintiff claims that the Defendants made false and/or misleading statements and/or failed to disclose that the very science behind AUGMENT was untested and in doubt, that the patients that had received OvaScience’s AUGMENT procedure in 2014 did not achieve a pregnancy success rate that was significantly higher than the rate achieved without the Company’s AUGMENT procedure, that the Company had not chosen to undertake its studies outside of the United States, but was forced to as it did not want to meet stringent and expensive federal regulations, and that the Company was far from being profitable, or even approaching profitability.