LOS ANGELES, Aug. 22, 2017 /PRNewswire/ -- Goldberg Law PC, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Avinger, Inc. ("Avinger" or the "Company") (Nasdaq: AVGR) for violations of §§11, 12(a)(2) and 15 of the Securities Act of 1933.
Investors who purchased shares of Avinger pursuant and/or traceable to its initial public offering ("IPO") on January 30, 2015, are encouraged to contact the firm before September 5, 2017, the lead plaintiff motion deadline.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights free of charge. You can also reach us through the firm's website at http://www.goldberglawpc.com/, or by email at [email protected].
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Complaint alleges that Avinger made materially false and misleading statements, and/or failed to disclose material information, in the documents filed in connection with its IPO. On January 30, 2015, the Company held its IPO at $13 per share. On July 12, 2016, Avinger announced second quarter revenue and lowered its sales guidance for 2016 from $25-30 million to $19-23 million, partly due to disappointing sales of its Pantheris device. When this news was announced, the Company's stock price dropped nearly 40%, from $11.43 per share to $6.89 per share. Avinger's stock price continued to decrease. On May 3, 2017, the stock closed at $0.57 per share, a decline of over 95% from the IPO price.
Goldberg Law PC represents investors around the world, and specializes in securities class action lawsuits and shareholder rights litigation.
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SOURCE Goldberg Law PC