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SAN FRANCISCO, July 29, 2019 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP alerts investors in Oasmia Pharmaceutical AB (NASDAQ: OASM) to the securities class action, Mikhlin v. Oasmia Pharmaceutical AB, et al., No. 1:19-cv-04349 filed in the U.S. District Court for the Eastern District of New York.
If you invested in Oasmia securities between October 23, 2015 through July 9, 2019 (the “Class Period”) and suffered losses you do not need to sign up to be included in the putative class of investors.
If you suffered significant losses, you may qualify to be a lead plaintiff – one who selects and oversees the attorneys prosecuting the case.
If you wish to serve as a lead plaintiff in this class action, you must move the Court no later than September 27, 2019 (the “Lead Plaintiff deadline”). Contact Hagens Berman immediately for more information about the case and being a lead plaintiff:
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
According to the Complaint, Defendants misrepresented that the Company had no off-balance sheet arrangements, concealed related party transactions, and signed false certifications attesting to the accuracy of Oasmia’s financial reporting.
On June 28, 2019, the market began to learn the truth when Oasmia disclosed that it had reported suspicious transactions to Swedish regulators made between the Company and related parties Alceco and Ardenia. Then, on July 9, 2019, Oasmia announced that it had ended its relationship with former executive chairmen Julian Aleksov because of the previously disclosed related party transactions.
This news caused the price of Oasmia shares to decline.
“We’re focused on investors’ losses and the extent to which Oasmia misled investors about improper related-party transactions,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Oasmia should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email OASM@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000