Rosen Law Firm Reminders Purchasers of Osiris Therapeutics of Upcoming Class Action Suit

Rosen Law Firm released a press release reminding purchasers of Osiris Therapeutics (NASDAQ:OSIR) securities between May 12, 2014 and November 20, 2015 that there is a lead plaintiff deadline of January 22, 2016 in the class action filed from the firm.
According to the press release:

The lawsuit seeks to recover damages for Osiris investors under the federal securities laws.
To join the Osiris class action, go to the firm’s website at https://rosenlegal.com/cases-786.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for more information on the class action. The case is pending in the U.S. District Court for the Southern District of New York.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, throughout the Class Period defendants issued false and misleading statements to investors and/or failed to disclose that: (1) Osiris improperly recognized revenue under contracts it had with its distributors; (2) Osiris’ disclosure controls and procedures were not effective as of December 31, 2014, March 31, 2015, and June 30, 2015; and (3) as a result, defendants’ statements about Osiris’ business and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

Click here to read the full press release.