Prominent law firms issues an alert to the shareholders of companies such as Washington Prime Group Inc (NYSE: WPG), Curis, Inc (NASDAQ: CRIS), Ocugen Inc (NASDAQ: OCGN), and Array Technologies Inc (NASDAQ: ARRY).
According to the class action lawsuits pending against these companies, the law firms seek investigations for misleading shareholders and causing substantial loss. They encourage the investors to become a plaintiff for their case without paying any fee.
The investors of Curis and Ocugen can reach Pomerantz LLP to investigate the securities fraud and other unlawful business practices committed by the company, its directors, and officers. Curis, on June 11, 2021, released an update on its CA-4948 Phase 1/ 2 single-arm, dose-escalation, open-label, and expansion trial to treat patients with MDS (myelodysplastic syndromes) or AML (acute myeloid leukemia). The company would commence phase 2 clinical trial with 300 mg BID dose because 400 mg and 500 mg of the drug demonstrated negligible toxicities.
Curis stock price declined by 36.83% on this news to trade at $8.03 on June 11, 2021. As a result, shareholders lost a significant amount of their wealth.
Pomerantz LLP leads an investigation into Ocugen to know whether the company and its directors are involved in any unlawful business practices or securities fraud. Ocugen said it would pursue EUA for Covaxin from the US FDA on May 26, 2021. The company issued another notification on June 10, 2021, that it will not seek EUA for the covid vaccine. Instead, it plans to apply for BLA for Covaxin. As a result, Ocugen stock price declined by 28.14% to $6.69 on June 10, 2021. Its stock now trades at $6.51 on June 16, 2021.
The Klein Law Firm submitted a lawsuit to protect the interests of Array Technologies investors, who purchased shares of the company between October 14, last year, and May 11, 2021. Arrays mislead the investors by not disclosing the rising prices of raw materials and their impact on the business. Its stock declined by almost one-third of its value and trades at $16.05 on June 16, 2021.
Rosen Law Firm is investigating Washington Prime on behalf of investors. It set a deadline of July 23, 2021, to join as a plaintiff in the lawsuit. Washington Prime caused a substantial loss to the investors by not revealing its deteriorating financial condition. Its shares trade at $2.67 on June 16, 2021, down from a peak of $14.91 on January 27, 2021.