NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP announced today that a class action lawsuit has been filed in the United States District Court for the District of Maryland against Osiris Therapeutics Inc. ("Osiris" or the "Company") (NASDAQ:OSIR) on behalf of all persons or entities who acquired Osiris securities during the period from May 12, 2014 through November 16, 2015 (the "Class Period"). Pursuant to applicable law, investors have until January 22, 2016 to file a motion to be appointed as lead plaintiff in the investor lawsuit.
The lawsuit alleges that throughout the Class Period, the Company materially misstated its revenues from several contracts. On November 16, 2015, the Company announced that it needed to restate revenue recognition for three contracts, resulting in decreased revenue for the first three quarters of 2015. On this news, the stock price declined from $13.99 to $10.97 per share.
If you acquired Osiris securities during the Class Period and you are interested in learning more about this matter and any rights you might have with respect to these claims, contact Rona Li at email@example.com, or by telephone at (212) 371-6600. Please bear in mind that some of these rights may be time-sensitive.
Kirby McInerney LLP is a New York-based plaintiffs' law firm concentrating in securities, whistleblower, antitrust and consumer litigation. The firm has specialized in complex litigation, including securities class actions, for several decades. Kirby McInerney LLP has repeatedly demonstrated its expertise in this field, and has been recognized by various courts that have appointed the firm to major positions in consolidated and multi-district litigation. The firm's efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars, and the firm's achievements and quality of service have been chronicled in numerous published decisions. Additional information about the firm or the claims against Osiris Therapeutics Inc. can be found at Kirby McInerney LLP's website: http://www.kmllp.com.