Case Background:
On January 11, 2017, the initial complaint in this securities class action was filed against Ophthotech Corporation (“Ophthotech”), and certain of Ophthotech’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action lawsuit brought on behalf of all purchasers of the common stock of Ophthotech between March 2, 2015 and December 12, 2016, both dates inclusive (the “Class Period).
The complaint alleges that Defendants made materially false and misleading statements and/or concealed material adverse facts. Specifically, Defendants engaged in a scheme which: (1) deceived the investing public regarding Ophthotech’s business and prospects and the intrinsic value of Ophthotech common stock; (2) enabled the Individual Defendants to collectively sell over $45 million worth of Ophthotech common stock to the unsuspecting public at artificially inflated prices at times and in amounts that were unusual; and (3) caused Lead Plaintiff and other members of the Class (defined below) to purchase Ophthotech common stock at artificially inflated prices.
Current Status of Case:
On June 4, 2018, Plaintiffs filed an amended complaint (the “Amended Complaint”). On July 27, 2018, Defendants filed a Motion to Dismiss the Amended Complaint. On September 10, 2021, the parties advised the Court that a Settlement had been reached. On September 16, 2022, the Court approved the Settlement of this action. This action has concluded.
The deadline to file a claim is July 6, 2022. If you have any questions or need further information about this settlement, you may go to the following website, http://www.ophsecuritiessettlement.com/, or you can contact the claims administrator, Gilardi & Co. at 1-888-808-4866.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com.