Faruqi & Faruqi, LLP is investigating claims on behalf of Ocugen investors

NEW YORK, May 10, 2024 /PRNewswire/ — Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating and reminds investors of potential claims against Ocugen, Inc. (“Ocugen” or the “Company”) (NASDAQ: OCGN). June 10, 2024 Deadline to seek lead plaintiff role in a federal securities class action lawsuit filed against the company.

James (Josh) Wilson, Faruqi and Faruqi, LLP Securities Litigation Partner, encourages investors who have suffered losses that are greater $75,000 In Ocugen you can contact him directly to discuss your options

If you have since purchased or acquired securities in Ocugen May 8, 2020 And April 1, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi Partners Josh Wilson direct at 877-247-4292 or 212-983-9330 (ext. 1310). For more information you can also click here: www.faruqilaw.com/OCGN.

Faruqi & Faruqi is a leading national securities law firm with offices in new York, Pennsylvania, California And Georgia. The company has recovered hundreds of millions of dollars for investors since its founding in 1995 www.faruqilaw.com.

As described below, the complaint claims that the Company and its officers have violated federal securities laws by making false and/or misleading statements and/or failing to disclose: (1) Ocugen’s financial statements May 8, 2020 to date, material misstatements have been made; (2) Ocugen did not have adequate internal controls; and (3) as a result, defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all times. When the true details came to light, the lawsuit says investors suffered harm.

At April 1, 2024After the market closed, Ocugen filed a Current Report on Form 8-K with the SEC, which stated, in relevant part, that “(o)n April 1, 2024Based on management’s recommendation and after consultation with EY, the Audit Committee of the Board of Directors (the “Audit Committee”) concluded that the Company’s previously published audited consolidated financial statements are available for each commencing fiscal year January 1, 2020 and its previously issued unaudited condensed interim consolidated financial statements for each of the first three quarters of such years, as well as the related earnings releases and investor presentations or other communications describing those financial statements, were materially misstated and, accordingly, should no longer be relied upon .”

Further April 1, 2024the Company has filed a notice of failure to timely file Form 10-K on Form 12b-25 because the Company requires additional time to correct the errors described above and prepare restated financial statements. At this time, the Company expects to file Form 10-K no later than 2023 April 16, 2024. However, there can be no assurance that the Company will be able to prepare restated financial statements and file its 2023 Form 10-K in the expected time frame or that additional errors will not be discovered.”

On this news, the Ocugen share price fell $0.16 per share or 10.38% to close $1.38 At April 2, 2024.

The court-appointed lead plaintiff is the investor with the greatest financial interest in the relief sought by the class, who is appropriate and typical of the class, and who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may request the Court to serve as lead plaintiff through counsel of their choice, or may elect to do nothing and remain an absent class member. Your ability to share in any recovery will not be affected by the decision to serve as lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information about Ocugen’s conduct to contact the company, including whistleblowers, former employees, shareholders and others.

To find out more about the Ocugen Class action lawsuit, go for it www.faruqilaw.com/OCGN or Call Faruqi & Faruqi Partners Josh Wilson direct at 877-247-4292 or 212-983-9330 (ext. 1310).

Lawyer advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar result with respect to future matters. We welcome the opportunity to discuss your individual case. All communications will be treated confidentially.

SOURCE Faruqi & Faruqi, LLP