The law firm of Kirby McInerney LLP announced today that a class action lawsuit has been commenced in the United States District Court for the District of Connecticut on behalf of investors who acquired OvaScience, Inc. (“OvaScience” or the “Company”) (NASDAQ-GM:OVAS) securities from February 25, 2013 through September 10, 2013. By law, investors have until August 5, 2014 to file a motion to be appointed as lead plaintiff in the investor lawsuit.
The lawsuit alleges that the Company violated the Securities Exchange Act of 1934 by failing to disclose during the Class Period that the Company’s core product, AUGMENT, a fertility enhancing process, would not be allowed to be tested using the FDA’s less stringent HCT/P oversight procedures, as previously announced. Instead, the product would likely have to be fully evaluated through the traditional FDA approval process, which is vastly more time consuming and expensive. When defendants finally admitted that the product’s HCT/P status was called into question by the FDA, and investors realized that this would deeply disrupt both the budget and timeline for the commercialization of the product, the Company’s stock declined over 23%.
If you acquired OvaScience securities during this period and you are interested in learning more about this matter and any rights you might have with respect to these claims, contact Wilona Karnadi or Jess Kelley at firstname.lastname@example.org, by telephone at (212) 371-6600, or by filling out this form. Please bear in mind that some of these rights may be time-sensitive.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, whistleblower, antitrust and consumer litigation. The firm has specialized in complex litigation, including securities class actions, for several decades. Kirby McInerney LLP has repeatedly demonstrated its expertise in this field, and has been recognized by various courts that have appointed the firm to major positions in consolidated and multi-district litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars, and the firm’s achievements and quality of service have been chronicled in numerous published decisions. Additional information about the firm or the claims against OvaScience can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.
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