Scott+Scott Attorneys At Law LLP Announce Proposed Settlement involving Avinger Inc. Common Stock

NEW YORK, July 9, 2018 /PRNewswire/ -- The following statement is being issued by Scott+Scott Attorneys at Law LLP regarding the Avinger, Inc. Securities Litigation:

UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF CALIFORNIA
OAKLAND DIVISION

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Northern District of California, that a hearing will be held on October 23, 2018, at 2:30 p.m., before The Honorable Claudia Wilken, at the United States District Court for the Northern District of California, Oakland Courthouse, 1301 Clay Street, Oakland, CA, 94612, for the purpose of determining: (1) whether the proposed Settlement of the claims in the above-captioned Action for $5,000,000 in cash should be approved by the Court as fair, reasonable, and adequate to members of the Class; (2) whether to certify the proposed Class for settlement purposes only; (3) whether, thereafter, this Action should be dismissed with prejudice pursuant to the terms and conditions set forth in the Stipulation of Settlement dated May 9, 2018; (4) whether the proposed plan to distribute the settlement proceeds (the "Plan of Allocation") is fair, reasonable, adequate and should be approved; and (5) whether the application of Plaintiffs' Counsel for payment of attorneys' fees and expenses (including an award to Plaintiffs for their time and expense in representing the Class) should be approved.  If you purchased or acquired Avinger, Inc. common stock between January 29, 2015 and April 10, 2017, inclusive (the "Class Period"), your rights may be affected by this Settlement. If you have not received the detailed Notice of Pendency of Class Action and Proposed Settlement, Settlement Fairness Hearing and Motion for An Award of Attorneys' Fees and Reimbursement of Litigation Expenses (the "Notice") and accompanying Proof of Claim and Release form, you may obtain copies by writing to Avinger Securities Litigation, c/o KCC Class Action Services, P.O. Box 404064, Louisville, KY 40233-4064, or you can download a copy at www.AvingerSecuritiesLitigation.com.  If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a valid Proof of Claim and Release form postmarked no later than October 31, 2018, establishing that you are entitled to recovery.
PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.  If you have any questions about the Settlement, you may contact Lead Counsel at the address listed below:

William C. Fredericks
SCOTT+SCOTT ATTORNEYS AT LAW LLP
The Helmsley Building
230 Park Avenue, 17th Floor
New York, NY 10169-1820
Telephone:  (800) 404-7770
Facsimile:   (212) 223-6334
Email: [email protected]

or go to the Settlement website at www.AvingerSecuritiesLitigation.com.

SOURCE Scott+Scott Attorneys At Law LLP