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4-Traders Homepage  >  Equities  >  Nasdaq  >  Ophthotech Corp    OPHT

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Lundin Law PC Announces Securities Class Action Lawsuit against Ophthotech Corporation and Encourages Investors with Losses to Contact the Firm

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01/17/2017 | 07:24pm CET

Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against Ophthotech Corporation ("Ophthotech" or the "Company") (Nasdaq: OPHT). Investors, who purchased or otherwise acquired Ophthotech shares between May 11, 2015 and December 12, 2016 inclusive (the “Class Period”), are encouraged to contact the firm prior to March 13, 2017, also known as the lead plaintiff motion deadline.

To participate in this class action lawsuit, call Brian Lundin, Esquire, of Lundin Law PC, at 888-713-1033, or e-mail him at brian@lundinlawpc.com.

No class has been certified in the above action yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.

The Complaint alleges Ophthotech issued deceptively positive reports about the success and potential of its treatment Fovista, used in combination with Lucentis, an anti-vascular endothelial growth factor agent on the market, despite knowing that the phase 3 clinical trial of Fovista would be unsuccessful in achieving its primary endpoint. According to the Complaint, these statements caused Ophthotech stock to trade at artificially inflated prices.

On December 12, 2016, Ophthotech revealed that the trial had failed to achieve its primary endpoint. When this news was released to the investing public, the value of Ophthotech stock fell, causing investors severe harm.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


© Business Wire 2017
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Financials ($)
Sales 2016 51,8 M
EBIT 2016 -187 M
Net income 2016 -186 M
Finance 2016 107 M
Yield 2016 -
P/E ratio 2016 -
P/E ratio 2017
EV / Sales 2016 1,28x
EV / Sales 2017 15,5x
Capitalization 173 M
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Buy
Mean consensus HOLD
Number of Analysts 10
Average target price 8,00 $
Spread / Average Target 65%
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Managers
NameTitle
David R. Guyer Chairman & Chief Executive Officer
Samir Chandrakant Patel President & Vice Chairman
Glenn P. Sblendorio Treasurer, Chief Financial & Operating Officer
Harvey N. Masonson Senior Vice President-Clinical Development
Axel Bolte Independent Class II Director
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