Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the District of Massachusetts on behalf of investors who purchased OvaScience, Inc. (“OvaScience” or the “Company”) (NasdaqGM:OVAS) common stock between February 25, 2013 and September 10, 2013.
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The complaint alleges that Defendants made false and/or misleading statements regarding the Company's business and operations. In particular, it is alleged that the Company falsely represented to investors and the Food and Drug Administration (“FDA”) that it believed its AUGMENT drug would qualify for designation as a 361 HCT/P, which allows human cellular- and tissue- based products to be tested and marketed without FDA licensure.
On September 11, 2013, the Company announced the receipt of a letter from the FDA in which the status of AUGMENT as a 361 HCT/P was questioned. The FDA also requested that OvaScience file an Investigational New Drug (IND) application, thus ensuring that the drug face mandatory clinical testing. The Company has suspended enrollment in AUGMENT in the U.S. and now plans to initiate sites for a study outside of the U.S. in 2014. Shares of OvaScience stock have fallen from a close of $14.28 per share on September 10, 2013 to a close of $9.83 on September 16, 2013.If you suffered a loss in OvaScience you have until November 15, 2013 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/ovascience-ovas. Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.