NEW YORK, May 4, 2017 /PRNewswire/ -- Scott+Scott, Attorneys at Law, LLP ("Scott+Scott"), a national shareholder and consumer rights litigation firm, announces an investigation into Avinger, Inc. ("Avinger" or the "Company") (NASDAQ: AVGR) and certain of its senior officers and directors, for violating federal securities laws. If you purchased Avinger stock pursuant or traceable to the Company's initial public offering ("IPO") on or about January 30, 2015, you are encouraged to contact Scott+Scott at (844) 818-6982 for more information.
Avinger designs, manufactures, and sells medical devices used to treat patients with peripheral arterial disease. The Company focuses on introducing products based on its lumivascular platform, which is an intravascular image-guided system.
On January 30, 2015, Avinger held its IPO at $13 per share. On July 12, 2016, the Company announced second quarter revenue and lowered its sales guidance for 2016 from $25-30 million to $19-23 million, due in part to lower than anticipated sales of the Company's Pantheris device. On this news, Avinger's stock plunged nearly 40%, from $11.43 per share to $6.89 per share.
Avinger stock has continued to decline. On May 3, 2017 the stock closed at $0.57 per share, a decline of over 95% from the IPO price.
What You Can Do
If you purchased Avinger stock and you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew at (844) 818-6982, or at firstname.lastname@example.org.
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
Scott+Scott, Attorneys at Law, LLP
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SOURCE Scott+Scott, Attorneys at Law, LLP