PHILADELPHIA, Nov. 13, 2023 /PRNewswire/ — A securities fraud lawsuit has been filed against Outlook Therapeutics, Inc. (“Outlook”) (NASDAQ: OTLK). The lawsuit is captioned Alsaidi v. Outlook Therapeutics, Inc., No. 2:23-cv-21862 (D.N.J.), and is filed on behalf of purchasers of Outlook’s securities between December 29, 2022 and August 29, 2023, inclusive (the “Class Period”).
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Investors who purchased or acquired Outlook securities during the Class Period may, no later than January 2, 2024, seek to be appointed as a lead plaintiff representative of the class.
The complaint alleges that, throughout the Class Period, the defendants failed to disclose to investors that: (i) there was a lack of substantial evidence supporting ONS-5010, Outlook’s lead product candidate, as a treatment for wet age-related macular degeneration (“wet AMD”); (ii) Outlook and/or its manufacturing partner had deficient chemistry manufacturing and controls and other manufacturing issues for ONS-5010, which remained unresolved at the time the ONS-5010 biologics license application was re-submitted to the FDA; (iii) as a result of all the foregoing, the FDA was unlikely to approve the ONS-5010 BLA in its present form; and (iv) accordingly, ONS-5010’s regulatory and commercial prospects were overstated.
For additional information or to learn how to participate in this litigation, please contact Berger Montague: James Maro at [email protected] or (267) 637-3176, or Andrew Abramowitz at [email protected] or (215) 875-3015 or CLICK HERE.
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.
Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Contacts:
James Maro, Senior Counsel
Berger Montague
(267) 637-3176
[email protected]
Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
[email protected]
SOURCE Berger Montague
