Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Oasmia Pharmaceutical AB To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Oasmia Pharmaceutical AB (“Oasmia”) or the “Company”) (NASDAQ: OASM) of the September 27, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Oasmia stock or options between October 23, 2015 and July 9, 2019 and would like to discuss your legal rights, please fill out the form below. There is no cost or obligation to you. 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 firstname.lastname@example.org.
The lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of all those who purchased Oasmia securities between October 23, 2015 and July 9, 2019 (the “Class Period”). The case, Mikhlin v. Oasmia Pharmaceutical AB, No. 1:19-cv-04349 was filed on July 29, 2019.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Oasmia engaged in improper relatedparty transactions with Alceco International S.A. and Ardenia Investment LTD, which were controlled by Defendant Aleksov and his former father-in-law; (2) due to those transactions, millions of Swedish kronor were not accounted for in Oasmia's books; (3) transactions concerning Oasmia's patents were also "carried out in a doubtful way;" and (4) as a result of the aforementioned misconduct, defendants' statements about Oasmia's business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Specifically, on June 28, 2019, Oasmia issued a press release that stated it was reporting suspicious transactions made between Oasmia and Alceco and Ardenia to the Swedish Economic Crime Authority and appointing a special examiner to review them.
On this news, Oasmia’s stock price fell from $1.34 on June 27, 2019 to $1.02 on June 28, 2019—a $0.32 or a 23.88% drop.
Oasmia Pharmaceutical AB
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Filed on 06/28/2019
Lead Plaintiff Deadline 09/27/2019
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