NEW YORK, July 29, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of all investors that purchased Oasmia Pharmaceutical AB (NYSE: OASM) securities between October 23, 2015 and July 9, 2019 (the “Class Period”). Investors have until September 27, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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According to the complaint, on June 28, 2019, Oasmia issued a press release that stated it was reporting suspicious transactions made between Oasmia and related partners Alceco and Ardenia to the Swedish Economic Crime Authority and appointing a special examiner to review them. On this news, shares of Oasmia fell $0.319 per share, or almost 24%, to close at $1.021 per share on June 28, 2019, damaging investors.
On July 9, 2019, after the close of the market, Oasmia issued another press release that stated it had ended its relationship with former executive chairmen Julian Aleksov because of the transactions mentioned in the Company’s June 28, 2019 press release. On this news, shares of Oasmia fell $0.34, or over 13%, to close at $2.26 per share on July 10, 2019, further damaging investors. As a result of defendants’ wrongful acts and omissions, and the precipitous decline in the market value of the Company’s common shares, Plaintiff and other Class members have suffered significant losses and damages.
If you purchased Oasmia shares during the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Oasmia class action please go to https://bespc.com/OASM. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com