NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired Ophthotech Corporation (NASDAQ: OPHT) securities between May 11, 2015 and December 12, 2016 (the “Class Period”).
The Complaint alleges that throughout the Class Period, Ophthotech overrepresented the efficacy of its treatment, Fovista, when used in combination with Lucentis, a commercially available anti-vascular endothelial growth factor agent, despite knowing that the phase 3 clinical trial of Fovista would fail to achieve its primary endpoint. The Complaint further alleges that these statements caused Ophthotech stock to trade at artificially inflated prices.
On December 12, 2016, Ophthotech revealed that the trial failed to achieve its primary endpoint. Following this news, Ophthotech shares declined $33.48 per share to close at $5.29 on December 12, 2016.
If you purchased or otherwise acquired Ophthotech securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact J. Brandon Walker, Esq. by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm, concentrating in commercial and securities litigation. For additional information concerning the Ophthotech lawsuit, please go to www.bespc.com/ophthotech. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.