NEW YORK, May 9, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Avinger, Inc. ("Avinger" or the "Company") (NASDAQ: AVGR). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/avgr.
The investigation concerns whether Avinger and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On January 30, 2015, Avinger held its initial public offering ("IPO") at $13.00 per share. On July 12, 2016, Avinger released its preliminary second quarter 2016 revenue results and said it expects a total revenue of $4.7 million for the second quarter ended June 30, 2016, versus the consensus estimate of $5.70 million. Avinger also stated that it projects its 2016 revenue to be roughly between $19 million to $23 million, compared to its previous guidance estimated between $25 million to $30 million, due in part to lower than anticipated sales of its Pantheris device. Following this news, Avinger stock dropped about 40%, from $11.43 per share to $6.89 per share. Avinger stock has continued to drop and on May 8, 2017, Avinger stock closed at $0.47 per share, a drop of over 96% from the IPO price of $13.00 per share.
If you are aware of any facts relating to this investigation, or purchased shares of Avinger, you can assist this investigation by visiting the firm's site: www.bgandg.com/avgr. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org
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