The investigation concerns whether Ocular and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On July 25, 2016, pre-market, Ocular announced that the U.S. Food and Drug Administration ("FDA") had denied approval for the Company's treatment of post-operative eye pain. Ocular stated that the FDA raised concerns related to its manufacturing process after an inspection of its facility.
On this news, Ocular's share price has fallen as much as $0.54, or 10.44%, to $4.63 during intraday trading on July 25, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
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SOURCE Pomerantz LLP