SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Avalanche Biotechnologies, Inc. - AAVL
Jun 16, 2015, 12:02 ET
NEW YORK, June 16, 2015 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Avalanche Biotechnologies, Inc. ("Avalanche" or the "Company") (NASDAQ: AAVL). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.
The investigation concerns whether Avalanche and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On June 15, 2015, the Avalanche said that the company's treatment for wet age-related macular degeneration met its primary endpoint, however, in a conference call to discuss Phase 2 clinical trial results, the company indicated that the study wasn't designed to show statistically significant differences between active and control groups.
On this news, shares of Avalanche fell $19.20 per share, to $19.68, or more than 50.62%, on June 15, 2015.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP
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