Ocugen, Inc. (OCGN) Report Restatement Case

The defendant has requested the court to dismiss the case.

E.D. Pennsylvania

Court

2:24-cv-01500

Case number

05/08/2020

Class period Start

04/01/2024

Class period End

06/11/2024

Lead Plaintiff motion deadline

$OCGN stockholder filed a claim against Ocugen for filing false reports with the SEC.
On April 1, 2024, Ocugen notified the SEC about late filing, intending to restate all annual and quarterly statements for 2022 and 2023.
On it, $OCGN fell 10.4%, losing $41M+ shareholder value.

On April 1, 2024, Ocugen filed with the SEC a Notification of Late Filing, stating that in preparation of the financial statements for 2023, the Company identified certain accounting errors. As a result, Ocugen 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 2023, the review and preparation of which is currently ongoing.

On this news, $OCGN fell 10.4% and lost over $41 million of its market capitalization, seriously damaging shareholders.

Considering all the information, investors might have grounds to suspect OCGN of inaccurate SEC reporting, which led to their losses.

Case Status

Motion to dismiss

Alleged Offence

Misleading Statements,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

04/02/2024

Filing date

04/11/2024

Lead Plaintiff Deadline

06/11/2024