Bernstein Liebhard LLP Announces That A Class Action Has Been Filed Against OvaScience, Inc.
November 28, 2017
Bernstein Liebhard LLP announces that a securities class action has been filed in the United States District Court for the District of Massachusetts on behalf of all persons or entities who purchased common shares of OvaScience, Inc. (“OvaScience” or the “Company”) (NASDAQ: OVAS ) directly in the Company’s January 8, 2015 Secondary Offering and who were damaged thereby (the “Class”). The complaint alleges that Defendants violated Sections 11, 12(a) and 15 of the Securities Act of 1933.
OvaScience is a life science company that engages in the discovery, development, and commercialization of new treatments for infertility. The Company is attempting to develop various fertility treatment options purported to enhance egg health and revolutionize in vitro fertilization (“IVF”). The Company’s Autologous Germline Mitochondrial Energy Transfer (“AUGMENT”) treatment, designed to improve the energy and health of the woman’s eggs by using mitochondria from a woman’s egg precursor cells (“EggPCs”), is available in certain IVF clinics in select international regions.
The Complaint alleges that Defendants made materially false and misleading statements and/or failed to disclose that: (1) the science behind AUGMENT was untested and in doubt; (2) the patients that had received OvaScience’s AUGMENT procedure in 2014 did not achieve a pregnancy success rate that was significantly higher than the rate achieved without the Company’s AUGMENT procedure; (3) 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 stringent and expensive federal regulations; and (4) the Company was far from being profitable, or even approaching profitability.
Plaintiff seeks to recover damages on behalf of all Class members who purchased OvaScience common shares directly in the Company’s January 8, 2015 Secondary Offering. If you invested in OvaScience as described above, and lost money on those transactions, you may wish to seek appointment as lead plaintiff in this action. In order to do so, you must meet certain requirements set forth in the applicable law and file appropriate papers no later than January 22, 2018.
A “lead plaintiff” is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as lead plaintiff. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Bernstein Liebhard LLP, or other counsel of your choice, to serve as your counsel in this action.
If you are interested in discussing your rights as an Applied Optoelectronics investor and/or have information relating to the matter, please contact Joseph R. Seidman, Jr. at (877) 779-1414 or firstname.lastname@example.org.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3.5 billion for its clients. The Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times.