Los Angeles, California--(Newsfile Corp. - June 18, 2021) - The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Ocugen, Inc. ("Ocugen" or "the Company") (NASDAQ: OCGN) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Ocugen announced on May 26, 2021, that it planned to submit an Emergency Use Authorization ("EUA") application for COVAXIN, a COVID-19 vaccine, to the FDA in June 2021. The Company announced on June 10, 2021, that it "will no longer pursue an Emergency Use Authorization (EUA) for COVAXIN," choosing instead to "pursue submission of a biologics license application (BLA) for its COVID-19 vaccine candidate, COVAXIN." The Company's Chairman and CEO stated, "Although we were close to finalizing our EUA application for submission, we received a recommendation from the FDA to pursue a BLA path," and that "this will extend our timelines." Based on this news, shares of Ocugen fell by more than 24% in intraday trading on the same day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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