Philadelphia, Pennsylvania--(Newsfile Corp. - November 21, 2023) - Berger Montague announces that a class action lawsuit was filed in the U.S. District Court for the District of New Jersey on behalf of those who acquired Outlook Therapeutics, Inc. ("Outlook") (NASDAQ: OTLK) securities.
If you suffered losses as a result of your investment in Outlook (NASDAQ: OTLK), and would like to learn about a potential recovery, CLICK HERE.
The lawsuit has been filed against Outlook on behalf of purchasers of Outlook's securities between December 29, 2022 and August 29, 2023, inclusive (the "Class Period").
The deadline for Investors who purchased or acquired Outlook securities during the Class Period to seek to be appointed as a lead plaintiff representative of the class may, is January 2, 2024.
The Class Period commences on December 29, 2022, when Outlook issued a press release during pre-market hours announcing the Company's financial results for its fiscal year 2022 and providing a corporate update. In the press release, Outlook announced, "In anticipation of potential FDA marketing approval in 2023, Outlook Therapeutics has begun commercial launch planning, including best-in-class partnerships with FUJIFILM Diosynth Biotechnologies for drug substance, and with drug product manufacturer Aji Bio-pharma Services for the finished drug product."
The lawsuit alleges that the truth regarding ONS-5010 emerged on August 30, 2023, when Outlook issued a press release announcing that the FDA had issued a complete response letter indicating that it could not approve the ONS-5010 biologics license application during the present review cycle because of unresolved chemistry manufacturing and controls and manufacturing site inspection issues, as well as "a lack of substantial evidence."
Following this news, Outlook's stock price fell $1.141 per share, or 80.92%, to close at $0.269 per share on August 30, 2023.
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.
James Maro, Senior Counsel
Andrew Abramowitz, Senior Counsel
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/188216