NEW YORK, Aug. 29, 2014 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in InVivo Therapeutics Holdings Corp. ("InVivo" or the "Company") (OTC: NVIV) of the October 6, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against InVivo and certain executives.
A complaint has been filed in the United States District Court of Massachusetts on behalf of all persons who purchased or acquired InVivo securities between April 5, 2013 through August 26, 2013, inclusive (the "Class Period").
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, the Company failed to disclose the timeframe within which its first-in-man clinical study for its biopolymer scaffolding product would be complete and data submitted to the United States Food and Drug Administration ("FDA").
On August 27, 2013, the Company announced that it would need at least 24 months from the date of the first enrolled patient to complete clinical trials for its biopolymer scaffold product.
Following this news, the price of InVivo stock declined by $1.37, or roughly 40%, to close at $2.07 on August 27, 2014.
Request more information now by clicking here: www.faruqilaw.com/NVIV. There is no cost or obligation to you.
If you invested in InVivo stock or options between April 5, 2013 through August 26, 2013 and would like to discuss your legal rights, visit www.faruqilaw.com/NVIV. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to [email protected]. Faruqi & Faruqi, LLP also encourages anyone with information regarding InVivo's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
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