||United States District Court for the Southern District of New York
||The Hon. Vernon S. Broderick
||Between March 2, 2015 and December 12, 2016
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.
Lead Plaintiff alleges that defendants disseminated materially false and misleading statements and/or concealed material adverse facts. Specifically, defendants engaged in a scheme which: (i) deceived the investing public regarding Ophthotech’s business and prospects and the intrinsic value of Ophthotech common stock; (ii) 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 (iii) caused Lead Plaintiff and other members of the Class to purchase Ophthotech common stock at artificially inflated prices.
Current Status of Case:
On June 12, 2020, Lead Plaintiff filed its motion for class certification. This unopposed motion is pending before the Court. All fact discovery is to be completed no later than June 18, 2021. This action is still ongoing.
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Kessler Topaz Meltzer & Check, LLP
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Radnor, PA 19087 1-844-887-9500 (toll free) or 1-610-667-7706
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