LOS ANGELES--(BUSINESS WIRE)--Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against Ophthotech Corporation ("Ophthotech" or the "Company") (Nasdaq: OPHT). Investors, who purchased or otherwise acquired Ophthotech shares between May 11, 2015 and December 12, 2016 inclusive (the “Class Period”), are encouraged to contact the firm prior to March 13, 2017, also known as the lead plaintiff motion deadline.
To participate in this class action lawsuit, call Brian Lundin, Esquire, of Lundin Law PC, at 888-713-1033, or e-mail him at firstname.lastname@example.org.
No class has been certified in the above action yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
The Complaint alleges Ophthotech issued deceptively positive reports about the success and potential of its treatment Fovista, used in combination with Lucentis, an anti-vascular endothelial growth factor agent on the market, despite knowing that the phase 3 clinical trial of Fovista would be unsuccessful in achieving its primary endpoint. According to the Complaint, these statements caused Ophthotech stock to trade at artificially inflated prices.
On December 12, 2016, Ophthotech revealed that the trial had failed to achieve its primary endpoint. When this news was released to the investing public, the value of Ophthotech stock fell, causing investors severe harm.
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