The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the District of Massachusetts on behalf of purchasers of OvaScience, Inc (“OvaScience” or the “Company”) (NasdaqGM: OVAS) securities during the period between February 25, 2013 and September 10, 2013, inclusive (the “Class Period”), and informs investors who wish to become proactively involved in the litigation that they have until August 5, 2014 to seek appointment as lead plaintiff.
If you have suffered a loss from investment in OvaScience securities purchased on or after February 25, 2013 and held through the revelation of negative information on September 10, 2013, as described below, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html. You may also request more information by contacting Brower Piven either by email at email@example.com or by telephone at (410) 415-6616.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than August 5, 2014 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company units during the Class Period.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that AUGMENT was not qualified for designation as a 361 HCT/P allowing human cellular and tissue based products to be tested and marketed without FDA licensure. According to the complaint, following the Company’s September 10, 2013 disclosure that it was suspending enrollment of AUGMENT in the U.S. after receiving a letter from the FDA that questioned the status of AUGMENT as a 361 HCT/P and advised the Company to file an Investigational New Drug (IND) application, the value of OvaScience shares declined significantly.
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