STEVENSON, Md., Sept. 16, 2013 (GLOBE NEWSWIRE) -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the District of Massachusetts on behalf of purchasers of OvaScience, Inc. ("OvaScience" or the "Company") (Nasdaq:OVAS) securities during the period between February 25, 2013 and September 10, 2013, inclusive (the "Class Period").
If you have suffered a net loss from investment in OvaScience, Inc. securities purchased on or after February 25, 2013, and held through the revelation of negative information on September 10, 2013, as described below, at no cost to you, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at firstname.lastname@example.org, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than November 15, 2013 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company stock during the Class Period.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants making materially false and misleading statements during the Class Period by representing to the U.S. Food and Drug Administration ("FDA") and investors that it believed that AUGMENT, the Company's product candidate designed to improve egg quality and increase the success of in vitro fertilization, qualified for designation as a 361 HCT/P, which allows human cellular and tissue based products to be tested and marketed without FDA licensure. According to the complaint, following the Company's September 10, 2013 disclosure that it was suspending enrollment of AUGMENT in the United States after receiving a letter from the FDA questioning the status of AUGMENT as a 361 HCT/P and advising the Company to file an Investigational New Drug application, the value of OvaScience shares declined significantly.
If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
CONTACT: Charles J. Piven Brower Piven, A Professional Corporation Stevenson, Maryland 410/415-6616 email@example.comSource: Brower Piven, A Professional Corporation