Cases
OvaScience, Inc. (NASDAQ: OVAS)
Securities Class Action
Overview
Overview
- Date:
- 3/29/2017
- Company Name:
- OvaScience, Inc.
- Stock Symbol:
- OVAS
- Class Period:
- FROM 1/8/2015 TO 3/26/2015
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Massachusetts
NEW YORK, March 29, 2017 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the District of Massachusetts on behalf of all persons or entities who acquired OvaScience, Inc. (NASDAQ: OVAS) securities between January 8, 2015 and March 26, 2015 (the “Class Period”).
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the science behind AUGMENT, a treatment specifically designed to improve a patient's egg health, had not been scientifically validated; (2) the Company was unable to achieve the success rates it claimed; (3) the reasons why the Company moved its studies outside of the United States; and (4) as a result, the Company’s profitability and prospects were false and misleading.
Specifically, on March 26, 2015, the Company disclosed that nine of the twenty-six women who received the AUGMENT treatment in Canada had achieved a pregnancy, a success rate of only approximately 35%. Then, on March 27, 2015, analysts for Leerink Partners LLC, stated that AUGMENT’s “[o]verall pregnancy rate appears less robust with a different denominator” and “the magnitude of AUGMENT benefit is unclear given no clear benchmarks and lack of standardized metrics.” Subsequently, on March 28, 2015, the Company disclosed that only two of the eight women who received the AUGMENT treatment in Turkey achieved a pregnancy, a success rate of only 25%, which was comparable to the success rate achieved for women undergoing in vitro fertilization (“IVF”) without AUGMENT. Then, on March 30, 2015, an analyst for H.C. Wainwright & Co. questioned the Company’s AUGMENT data pregnancy rate calculation.
If you purchased or otherwise acquired OvaScience securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the science behind AUGMENT, a treatment specifically designed to improve a patient's egg health, had not been scientifically validated; (2) the Company was unable to achieve the success rates it claimed; (3) the reasons why the Company moved its studies outside of the United States; and (4) as a result, the Company’s profitability and prospects were false and misleading.
Specifically, on March 26, 2015, the Company disclosed that nine of the twenty-six women who received the AUGMENT treatment in Canada had achieved a pregnancy, a success rate of only approximately 35%. Then, on March 27, 2015, analysts for Leerink Partners LLC, stated that AUGMENT’s “[o]verall pregnancy rate appears less robust with a different denominator” and “the magnitude of AUGMENT benefit is unclear given no clear benchmarks and lack of standardized metrics.” Subsequently, on March 28, 2015, the Company disclosed that only two of the eight women who received the AUGMENT treatment in Turkey achieved a pregnancy, a success rate of only 25%, which was comparable to the success rate achieved for women undergoing in vitro fertilization (“IVF”) without AUGMENT. Then, on March 30, 2015, an analyst for H.C. Wainwright & Co. questioned the Company’s AUGMENT data pregnancy rate calculation.
If you purchased or otherwise acquired OvaScience securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.