NEW ORLEANS, Aug. 28, 2015 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until September 8, 2015 to file lead plaintiff applications in a securities class action lawsuit against Avalanche Biotechnologies, Inc. (NasdaqGM: AAVL) if they purchased the Company's securities between July 31, 2014 and June 15, 2015, inclusive (the "Class Period"), including investors who purchased shares between January 9 and 13, 2015 at $59 a share. This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased shares of Avalanche and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (email@example.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by September 8, 2015.
About the Lawsuit
Avalanche and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
The lawsuit alleges that Avalanche made false statements and omissions regarding its Phase 2a study of its lead product, AVA-101, a single sub-retinal injection to treat an advanced form of Age-Related Macular Degeneration, a progressive disease affecting the region of the eye responsible for central vision. These false statements and omissions included, in part, that: (i) the trial was not designed to show statistically significant differences between the active and control subjects in the secondary endpoints; (ii) the drug showed little improvement in visual acuity above baseline; (iii) retinal thickness actually increased among the treatment group; and (iv) the trial was improperly designed.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
206 Covington St.
Madisonville, LA 70447
SOURCE Kahn Swick & Foti, LLC