NEW YORK--(BUSINESS WIRE)--
Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the common stock of Avinger, Inc. (NASDAQ:AVGR) in or traceable to Avinger’s January 30, 2015 initial public offering. The lawsuit seeks to recover damages for Avinger investors under the federal securities laws.
To join the Avinger class action, go to http://rosenlegal.com/cases-1124.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
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 wish to join the litigation, go to http://rosenlegal.com/cases-1124.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at [email protected] or [email protected].
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Since 2014, Rosen Law Firm has been ranked #2 in the nation by Institutional Shareholder Services for the number of securities class action settlements annually obtained for investors. Attorney Advertising. Prior results do not guarantee a similar outcome.
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