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

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Khang & Khang LLP Announces Securities Class Action Lawsuit against Ophthotech Corporation, and Encourages Investors with Losses to Contact the Firm

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02/22/2017 | 11:55pm CET

IRVINE, CA / ACCESSWIRE / February 22, 2017 /Khang & Khang LLP (the "Firm") announces the filing of 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.

If you purchased shares of Ophthotech during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or via e-mail at joon@khanglaw.com.

There has been no class certification in this case. 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 states that 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 falsely inflated prices.

On December 12, 2016, Ophthotech announced that the trial did not achieve its primary endpoint.

When this information was disclosed to the investing public, the value of Ophthotech stock fell, causing shareholders serious harm.

If you wish to learn more about this lawsuit, at no charge, or if you have questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or via e-mail at joon@khanglaw.com.

This press release may constitute Attorney Advertising in some jurisdictions.

Contact:

Joon M. Khang, Esq. Telephone: 949-419-3834 Facsimile: 949-225-4474 joon@khanglaw.com

SOURCE: Khang & Khang LLP

Copyright © 2017 accesswire. All Rights Reserved., source Press Releases

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Financials ($)
Sales 2016 51,3 M
EBIT 2016 -190 M
Net income 2016 -186 M
Finance 2016 58,3 M
Yield 2016 -
P/E ratio 2016 -
P/E ratio 2017
EV / Sales 2016 1,82x
EV / Sales 2017 14,0x
Capitalization 152 M
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Mean consensus HOLD
Number of Analysts 9
Average target price 7,88 $
Spread / Average Target 85%
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Managers
NameTitle
David R. Guyer Chairman & Chief Executive Officer
Glenn P. Sblendorio President, Chief Financial Officer & Treasurer
Keith Westby Chief Operating Officer & Senior Vice President
Harvey N. Masonson Senior Vice President-Clinical Development
Axel Bolte Independent Class II Director
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