Philadelphia, Pennsylvania--(Newsfile Corp. - September 17, 2024) - Grabar Law Office is investigating whether officers and directors of Ocugen, Inc. (NASDAQ: OCGN) breached their fiduciary duties owed to the company.
If you have held Ocugen shares since prior to May 8, 2020 and would like to learn more about the investigation, your rights, and potential for recovery, please visit https://grabarlaw.com/the-latest/Ocugen-Shareholder-Investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com or call 267-507-6085.
WHY. After market hours on April 1, 2024, Ocugen filed a Notification of Late Filing on Form 12b-25 with the SEC, stating that "in connection with the preparation of the financial statements of the Company for the year ended December 31, 2023, the Company identified certain accounting errors relating to the application of U.S. GAAP to certain agreements with one of its business partners related to a collaboration agreement. As a result, the Company intends to restate its financial statements for the year ended December 31, 2022 and for each of the first three quarters of 2022 and 2023 in the 2023 Form 10-K, the review and preparation of which is currently ongoing."
A recently filed securities fraud class action complaint alleges that Ocugen, via certain of its officers and directors, made materially false and/or misleading statements and/or failed to disclose that: (1) Ocugen's financial statements from May 8, 2020 to the present were materially misstated; (2) Ocugen did not have adequate internal controls; and (3) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times.
WHAT YOU CAN DO NOW: Current Ocugen shareholders who have held Ocugen shares since prior to May 8, 2020, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to them.
If you would like to learn more about this matter, you are encouraged to visit https://grabarlaw.com/the-latest/ocugen-shareholder-investigation/, contact us at jgrabar@grabarlaw.com, or call 267-507-6085.
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