An investor in Avalanche Biotechnologies’ follow-on public stock offering completed on January 13, 2015 was filed a lawsuit over alleged violations of securities laws.
Shares of Avalanche Biotechnologies Inc (NASDAQ: AAVL) declined from as high as $62.48 per share in January 2015 to as low as $5.41 per share on January 20, 2016.
Investors who are current long term investors in Avalanche Biotechnologies Inc (NASDAQ:AAVL) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The plaintiff claims that the Registration Statement filed with the SEC in connection with Avalanche Biotechnologies’ follow-on public stock offering was negligently prepared and, as a result, contained untrue statements of material facts or omitted to state other facts necessary to make the statements made not misleading, and was not prepared in accordance with the rules and regulations governing its preparation
On June 15, 2015, Avalanche Biotechnologies Inc announced phase 2a results for AVA-101 in Wet Age-Related Macular Degeneration. Avalanche Biotechnologies Inc announced that its Phase 2a clinical study for AVA-101 met its 12-month primary endpoint, based on ophthalmic and systemic safety, demonstrating that AVA-101 was well tolerated with a favorable safety profile in subjects with wet age-related macular degeneration (wet AMD). However, in a conference call to discuss Phase 2 clinical trial results, Avalanche Biotechnologies Inc indicated that the study wasn’t designed to show statistically significant differences between active and control groups.
Those who purchased shares of Avalanche Biotechnologies Inc (NASDAQ:AAVL) have certain options and should contact the Shareholders Foundation.
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