Ocugen Inc.'s recent announcement that it had misstated its financial statements for 2020 and subsequent years sent its stock price down more than 10%, investors said Thursday in a proposed class action.
The biotech company told the Securities and Exchange Commission April 1 that it had identified accounting errors in connection with “certain agreements with one of its business partners related to a collaboration agreement,” investor Austin Patterson said. He filed his complaint in the US District Court for the Eastern District of Pennsylvania.
The company said it will restate its consolidated financial statements for 2022 and delay a key ...
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