San Diego, CA -- (ReleaseWire) -- 06/10/2014 -- An investor in shares of OvaScience Inc (NASDAQ:OVAS) filed a new lawsuit in the U.S. District Court for the District of Massachusetts over alleged violations of Federal Securities Laws by OvaScience Inc in connection with certain allegedly false and misleading statements made between February 25, 2013 and September 10, 2013.
If you purchased a significant amount of shares of OvaScience Inc (NASDAQ:OVAS) between February 25, 2013 and September 10, 2013, and / or if you purchased NASDAQ:OVAS shares prior to February 2013 and currently hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: August 5, 2014. NASDAQ:OVAS investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges, on behalf of all persons or entities who purchased or otherwise acquired securities of OvaScience Inc (NASDAQ:OVAS) between, that OvaScience Inc and certain of its officers and directors violated the Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
More specifically, the plaintiff alleges that OvaScience Inc represented to the Food and Drug Administration (“FDA”) and investors that it believed that AUGMENT qualified for designation as a 361 HCT/P, which allows human cellular and tissue based products to be tested and marketed without FDA licensure. However, the plaintiff claims that despite this representation, OvaScience never qualified for this designation.
On September 10, 2013, the Company disclosed that it was suspending enrollment of AUGMENT in the U.S. after receiving an "untitled" letter from the FDA "questioning the status of AUGMENT as a 361 HCT/P and advising the Company to file an Investigational New Drug (IND) application." OvaScience Inc (NASDAQ:OVAS) declined from $14.29 per share on September 10, 2013, to $9.124 per share on September 11, 2013.
Those who purchased shares of OvaScience Inc (NASDAQ:OVAS), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego