Cases
Avinger, Inc. (NASDAQ: AVGR)
Securities Class Action
Overview
Overview
- Date:
- 8/8/2017
- Company Name:
- Avinger, Inc.
- Stock Symbol:
- AVGR
- Class Period:
- FROM 1/27/2015 TO 5/22/2017
- Status:
- Closed/Complete
NEW YORK, August 8, 2017 – Bragar Eagel & Squire, P.C. reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all persons or entities who purchased or otherwise acquired Avinger, Inc. (NASDAQ: AVGR) securities between January 27, 2015 and May 22, 2017 (the “Class Period”). Investors have until September 5, 2017 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint alleges that the Registration Statement and Prospectus filed for the Company's Initial Public Offering contained materially false and misleading statements and/or failed to disclose that: (1) Avinger did not have adequate sales and marketing personnel to increase sales of its lumivascular platform products and to commercialize Pantheris; (2) the Company already experienced problems with the robustness of its lumivascular platform devices, including Pantheris; (3) physicians and hospitals were requiring more extensive and comprehensive training and education on the benefits of Avinger's products to convince them to adopt and implement its lumivascular platform products compared to competing products and procedures available in the market; (4) Avinger would not be able to achieve a rapid ramp rate for increased sales of its lumivascular platform; and (5) as a result, the Company was experiencing lower sales and revenues.
Avinger priced its IPO at $13 per share. Since the IPO, however, Avinger stock has fallen to a recent close of $0.36 per share on May 23, 2017.
If you purchased or otherwise acquired Avinger securities during the Class Period or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
The complaint alleges that the Registration Statement and Prospectus filed for the Company's Initial Public Offering contained materially false and misleading statements and/or failed to disclose that: (1) Avinger did not have adequate sales and marketing personnel to increase sales of its lumivascular platform products and to commercialize Pantheris; (2) the Company already experienced problems with the robustness of its lumivascular platform devices, including Pantheris; (3) physicians and hospitals were requiring more extensive and comprehensive training and education on the benefits of Avinger's products to convince them to adopt and implement its lumivascular platform products compared to competing products and procedures available in the market; (4) Avinger would not be able to achieve a rapid ramp rate for increased sales of its lumivascular platform; and (5) as a result, the Company was experiencing lower sales and revenues.
Avinger priced its IPO at $13 per share. Since the IPO, however, Avinger stock has fallen to a recent close of $0.36 per share on May 23, 2017.
If you purchased or otherwise acquired Avinger securities during the Class Period or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.