NEW YORK, Dec. 1, 2017 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in OvaScience, Inc. ("OvaScience" or the "Company") (NASDAQ: OVAS) of the January 22, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in OvaScience stock or options in the Company's Secondary Offering on or about January 8, 2015 (the "Secondary Offering") and would like to discuss your legal rights, click here: www.faruqilaw.com/OVAS. There is no cost or obligation to you.
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 firstname.lastname@example.org.
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The lawsuit has been filed in the U.S. District Court for the District of Massachusetts on behalf of all those who purchased OvaScience common stock directly in the Company's Secondary Offering. The case, Westmoreland County Employee Retirement System v. OvaScience, Inc. et al, No. 1.17-cv-12312 was filed on November 22, 2017.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by negligently issuing untrue statements of material facts and omitting to state material facts required to be stated from the Registration Statement, as amended, the January 6, 2015 Preliminary Prospectus Supplement, the January 8, 2015 Prospectus Supplement, and all documents incorporated therein (the "Offering Materials").
Specifically, the lawsuit alleges that the Offering Materials contained misleading statements about and/or failed to disclose that: (i) the science behind the Company's Autologous Germline Mitochondrial Energy Transfer ("AUGMENT") treatment was untested and in doubt; (ii) the patients that had received the Company's AUGMENT procedure in 2014 did not achieve a pregnancy success rate that was significantly higher than the rate achieved without the AUGMENT procedure; (iii) the Company had not chosen to undertake its studies outside of the United States, but was forced to as it did not want to meet rigorous federal regulations; and (iv) the Company was far from being profitable.
Since the Company's Secondary Offering, OvaScience's share price has declined over 95%.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding OvaScience's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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