NEW YORK, Nov. 29, 2017 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of OvaScience, Inc. (“OvaScience” or the “Company”) (NASDAQ: OVAS). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether OvaScience and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On or around January 8, 2015, OvaScience conducted a secondary offering, selling 2.3 million shares of common stock at $50.00 per share (the “Offering”). In the registration statement and prospectus issued in connection with the Offering, the Company repeatedly emphasized the technology and scientific procedure behind OvaScience’s Autologous Germline Mitochondrial Energy Transfer (“AUGMENT”) fertility treatment. In a series of subsequent disclosures, however, investors learned, among other things, that the science behind AUGMENT was untested and unproven and that patients receiving the AUGMENT procedure had not achieved a pregnancy success rate that was significantly higher than the rate achieved without the procedure.
As of November 22, 2017, OvaScience’s share price had fallen to $1.36, a decline of more than 97% from the $50.00 Offering price.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
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SOURCE Pomerantz LLP