On or around 06/04/2019 (Other)
Filing Date: July 07, 2017
According to the law firm press release, the lawsuit alleges defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Ocular Therapeutix’s management has been misleading investors about DEXTENZA manufacturing issues, including that more than 50% of lots manufactured by Ocular Therapeutix contain bad product; (2) such manufacturing issues could imperil the approval of DEXTENZA by the FDA; and (3) as a result, defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On October 27, 2017, this case was transferred to the United States District Court for the District of Massachusetts. The transferred case was opened as 17-CV-12146. On March 9, 2018, the Court issued an Order consolidating cases and approving Lead Plaintiffs and Counsel. The cases shall be consolidated under Docket 17-CV-12288 and identified as "In re Ocular Therapeutix, Inc. Securities Litigation."
Lead Plaintiffs filed a consolidated amended Complaint on May 7, 2018. Defendants filed a Motion to Dismiss the consolidated amended Complaint on July 6. On April 30, 2019, the Court issued an Order granting Defendants' Motion to Dismiss. Lead Plaintiffs filed a Notice appealing the Court's Dismissal Order on May 31.
Company & Securities Information
Defendant: Ocular Therapeutix, Inc.
Industry: Biotechnology & Drugs
Headquarters: United States
Ticker Symbol: OCUL
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Thomas Gallagher, et al. v. Ocular Therapeutix, Inc., et al.