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Ophthotech Corporation (OPHT)

NASDAQ:OPHT

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Ophthotech Corporation To Contact The Firm Before Lead Plaintiff Deadline

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Ophthotech Corporation (“Ophthotech” or the “Company”) (NASDAQ:OPHT) of the March 13, 2017 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.

The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Ophthotech common stock or options between May 11, 2015 and December 12, 2016 (the “Class Period”).  The case, Micholle v. Ophthotech Corporation et al, No. 17-cv-00210 was filed on January 11, 2017.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by misrepresenting the effectiveness and potential of its anti-PDGF therapy, Fovista. 

Specifically, on December 12, 2016, Ophthotech announced results of the two pivotal phase 3 trials of Fovista disclosing that the treatment, administered in combination with Lucentis, had failed to achieve its primary endpoint of visual acuity at 12 months compared to Lucentis administered as a monotherapy under the guidelines established by the FDA.

After the announcement, Ophthotech’s share price fell from $38.77 per share on December 9, 2016 to a closing price of $5.29 on December 12, 2015—a $33.50 or a 86.4% drop.

Take Action

If you invested in Ophthotech common stock or options between May 11, 2015 and December 12, 2016 and would like to discuss your legal rights, please fill out the form below. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.  Faruqi & Faruqi, LLP also encourages anyone with information regarding Ophthotech’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Request Information

Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.

  • Case:
    Ophthotech Corporation (OPHT)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 01/11/2017

Send Information

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