SAN DIEGO & BEDFORD, Mass.--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP is investigating whether certain officers and directors of Ocular Therapeutix, Inc. (NasdaqGM: OCUL) breached their fiduciary duties to shareholders. Ocular, a biopharmaceutical company, develops and manufactures ocular therapies using its Hydrogel technology.
View this press release on the firm's Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/ocular-therapeutix-inc-nov-2017
Ocular's DEXTENZA at Risk of Being Rejected by the FDA
A securities class action complaint has been filed against Ocular on behalf of all purchasers of Ocular securities between May 5, 2017 and July 6, 2017, for alleged violations of the Securities Exchange Act of 1934 by Ocular's officers and directors. According to the complaint, Ocular officials neglected to disclose the true extent of DEXTENZA manufacturing issues, including that 50% of the company's lots contain bad product, and that such issues could imperil the approval of DEXTENZA by the FDA. DEXTENZA could be rejected by the FDA because of product contamination, including aluminum, found by an FDA inspector during a visit to the company's manufacturing facility. According to the transcript from Ocular's earnings conference call on November 7, 2017, Ocular has yet to completely remediate this issue and has not yet resubmitted is New Drug Application with the FDA. Ocular's stock is currently trading at just $4.68, an almost all-time low.
Ocular Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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