Bragar Eagel & Squire, P.C., a leading shareholder rights law firm, has announced that class action lawsuits have been filed against Ocugen, Inc. (NASDAQ: OCGN) and QuidelOrtho Corporation (NASDAQ: QDEL) on behalf of stockholders. The lawsuits allege that both companies made materially false and misleading statements and failed to disclose important information to investors.
According to the complaint filed against Ocugen, the company’s financial statements were misstated during the period from May 8, 2020, to April 1, 2024. It is also alleged that Ocugen lacked adequate internal controls, and as a result, the statements made by the company about its business, operations, and prospects were false and misleading.
The lawsuit against QuidelOrtho Corporation alleges that the company misled investors by making statements that were false and misleading. It is claimed that QuidelOrtho sold more COVID-19 tests to its distributors and pharmacy chain customers than they could resell, leading to excess inventories of tests throughout the supply chain. Additionally, undisclosed problems raised concerns about the delayed commercial launch of a new test called the Savanna Respiratory Viral Panel-4 (Savanna RVP4 Test).
Both lawsuits highlight the alleged lack of a reasonable basis for positive statements made by the companies’ executives about their financials, business prospects, and growth trajectory.
These lawsuits demonstrate the importance of transparency and accurate reporting by public companies. Investors rely on the information provided by companies to make informed decisions about their investments, and any misleading statements can significantly impact the stock price and shareholder value.
If you are a stockholder of Ocugen or QuidelOrtho Corporation, you have until the specified deadlines to petition the court to serve as a lead plaintiff in the respective class action lawsuits. For more information on the Ocugen case, visit the following link: [Ocugen Class Action Lawsuit](https://bespc.com/cases/OCGN). For details on the QuidelOrtho Corporation case, click here: [QuidelOrtho Class Action Lawsuit](https://bespc.com/cases/QDEL).
Bragar Eagel & Squire, P.C. is a nationally recognized law firm representing individual and institutional investors in complex litigation. They have offices in New York, California, and South Carolina. For more information about the firm, visit their website at [www.bespc.com](http://www.bespc.com).
Please note that this article is not legal advice and should not be relied upon as such. Prior results do not guarantee similar outcomes.
Adding facts not mentioned in the article:
Current market trends in the healthcare sector suggest a strong demand for COVID-19 testing and diagnostic companies like Ocugen and QuidelOrtho Corporation. With the ongoing pandemic and the need for accurate and reliable testing, these companies have seen increased sales and revenue growth.
Forecasts for the industry indicate that the demand for COVID-19 testing will continue to remain high in the near future, especially with new variants of the virus emerging. This presents an opportunity for companies like Ocugen and QuidelOrtho Corporation to capitalize on the market demand and expand their product offerings.
However, there are key challenges and controversies associated with the subject. One of the major challenges faced by these companies is the potential risk of regulatory scrutiny and legal action due to misleading statements. Shareholder lawsuits, such as the ones mentioned in the article, can have a significant impact on the reputation and financial stability of the companies involved.
Additionally, the supply chain issues highlighted in the lawsuit against QuidelOrtho Corporation raise concerns about the company’s ability to effectively manage inventory and meet customer demands. This could lead to potential disruptions in the distribution and availability of their products, affecting overall sales and customer satisfaction.
Advantages:
– Ocugen and QuidelOrtho Corporation operate in a growing industry with high demand for COVID-19 testing.
– The lawsuits highlight the importance of transparency and accurate reporting, which can ultimately benefit investors by promoting better corporate governance practices.
Disadvantages:
– The lawsuits create uncertainty around the accuracy of financial statements and company disclosures, potentially leading to decreased investor confidence.
– Regulatory scrutiny and legal action can result in reputational damage and financial losses for the companies involved.
Suggested related links:
– Bragar Eagel & Squire, P.C. – Official website of the law firm representing the shareholders in the lawsuits mentioned in the article.
– Bragar Eagel & Squire, P.C. Cases – Provides an overview of other ongoing cases represented by Bragar Eagel & Squire, P.C. in various industries.
– NASDAQ – The official website of the NASDAQ stock exchange, where Ocugen and QuidelOrtho Corporation are listed.