NEW YORK, Feb. 23, 2016 /PRNewswire/ -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Anavex Life Sciences Corp. (NASDAQ: AVXL) between May 17, 2013 and December 28, 2015.
You are hereby notified that a class action lawsuit has been commenced in the USDC for the Southern District of New York. If you purchased or otherwise acquired Anavex between May 17, 2013 and December 28, 2015, your rights may be affected by this action. To get more information go to:
or contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
According to the complaint, Anavex issued misleading statements and failed to disclose that the Company had used a paid stock promoter to artificially inflate the Company's share price.
On December 29, 2015, Anavex disclosed that it had received a subpoena from the SEC on December 22, 2015. Anavex stated, in part, that "[t]he Company believes the subpoena and investigation relate to the recent unusual activity in the market for the Company's shares." Then on December 30, 2015, Seeking Alpha published a report entitled "Anavex: A Regulatory Target Damaged By Incriminating Evidence." On this news, Anavex stock fell $0.78, or 12.42%, to close at $5.50 per share.
If you suffered a loss in Anavex you have until February 29, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation involving financial fraud, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
SOURCE Levi & Korsinsky, LLP