Cases
Ophthotech Corporation (NASDAQ: OPHT)
Securities Class Action
Overview
Overview
- Date:
- 1/13/2016
- Company Name:
- Ophthotech Corporation
- Stock Symbol:
- OPHT
- Class Period:
- FROM 5/11/2015 TO 12/12/2016
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Southern District of New York
NEW YORK, January 13, 2016 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the New York Southern District Court on behalf of all persons or entities who acquired Ophthotech Corporation (NASDAQ: OPHT) securities between May 11, 2015 and December 12, 2016 (the “Class Period”).
The Complaint alleges that throughout the Class Period, Ophthotech overrepresented the efficacy of its treatment, Fovista, when used in combination with Lucentis, a commercially available anti-vascular endothelial growth factor agent, despite knowing that the phase 3 clinical trial of Fovista would fail to achieve its primary endpoint. The Complaint further alleges that these statements caused Ophthotech stock to trade at artificially inflated prices.
On December 12, 2016, Ophthotech revealed that the trial failed to achieve its primary endpoint. Following this news, Ophthotech shares declined $33.48 per share to close at $5.29 on December 12, 2016.
If you acquired Ophthotech securities during the Class Period, have information or 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 Complaint alleges that throughout the Class Period, Ophthotech overrepresented the efficacy of its treatment, Fovista, when used in combination with Lucentis, a commercially available anti-vascular endothelial growth factor agent, despite knowing that the phase 3 clinical trial of Fovista would fail to achieve its primary endpoint. The Complaint further alleges that these statements caused Ophthotech stock to trade at artificially inflated prices.
On December 12, 2016, Ophthotech revealed that the trial failed to achieve its primary endpoint. Following this news, Ophthotech shares declined $33.48 per share to close at $5.29 on December 12, 2016.
If you acquired Ophthotech securities during the Class Period, have information or 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.