SAN DIEGO, June 10, 2017 /PRNewswire/ -- Johnson & Weaver, LLP is investigating potential violations of federal and state laws by certain officers and directors of Avinger, Inc. (NASDAQ: AVGR). Avinger, located in Redwood City, CA, is a commercial-stage medical device company that designs, manufactures, and sells image-guided and catheter-based systems used by physicians to treat patients with peripheral arterial disease.
A class action lawsuit was filed on behalf of purchasers of the common stock of Avinger traceable to Avinger's January 30, 2015 initial public offering. According to the lawsuit, the documents filed in connection with the IPO 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) Avinger had 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 Avinger's lumivascular platform products compared to competing products and procedures available in the market; (4) in turn, Avinger would not be able to achieve a rapid ramp rate for increased sales of its lumivascular platform; and (5) as a result, Avinger was experiencing lower sales and revenues. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you have information that could assist in this investigation, including past employees and others, or if you purchased Avinger stock and interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (firstname.lastname@example.org) by email or phone at 619-814-4471. If emailing, please include a phone number.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson & Weaver, LLP