STEVENSON, Md., Aug. 6, 2014 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court of Massachusetts on behalf of purchasers of InVivo Therapeutics Holdings Corp. ("InVivo" or the "Company") (Other OTC:NVIV) common stock during the period between April 5, 2013 through August 26, 2013, inclusive (the "Class Period").
If you have suffered a loss from investment in InVivo common stock purchased on or after April 5, 2013 and held through the revelation of negative information during and/or at the end of the Class Period, as described below, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html. You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616. No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than October 6, 2014 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company units during the Class Period.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants' failure to disclose during the Class Period the time 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"). According to the complaint, following Company's August 27, 2013 press release disclosing that the FDA had placed conditions on the approval of an Investigational Device Exemption that would make the Company's stated target date for completing the study and submitting data to the FDA was impossible, the value of InVivo shares declined significantly.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
CONTACT: Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
hoffman@browerpiven.com
