September 13, 2021. Ophthotech agreed to pay $29 million to
end a securities class action lawsuit that was brought against the company in
the Southern District of New York. Plaintiff alleged that Ophthotech
misrepresented the scope and outcomes of clinical studies regarding the macular
degeneration drug Fovista. Professor
Steven Feinstein of Babson College and Crowninshield Financial
Research provided expert analysis on market efficiency and the computation of
damages.
Additional information is available at Bloomberg
Law and Law360.
Tagged settlement