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SHAREHOLDER ALERT: Khang & Khang LLP Announces Securities Class Action Lawsuit against Avinger, Inc. and Encourages Investors with Losses to Contact the Firm
Friday, June 9, 2017 11:58 PM
IRVINE, CA / ACCESSWIRE / June 9, 2017 / Khang & Khang LLP (the "Firm") announces the filing of a securities class action lawsuit against Avinger, Inc. ("Avinger" or the "Company") (NASDAQ: AVGR). Investors who purchased or otherwise acquired shares pursuant and/or traceable to the Company's initial public offering on January 30, 2015 (the "IPO"), are encouraged to contact the Firm.
If you purchased Avinger shares on or about the IPO, please contact Joon M. Khang, Esq., of Khang & Khang LLP, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone at (949) 419-3834, or by e-mail at [email protected].
There has been no class certification in this case yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
According to the Complaint, Avinger filed documents in connection with the IPO that contained materially false and misleading statements and/or failed to disclose: that Avinger did not have adequate sales and marketing personnel to increase sales of its lumivascular platform products and to commercialize Pantheris; that the Company already experienced problems with the robustness of its lumivascular platform devices, including Pantheris; that 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 its lumivascular platform products compared to competing products and procedures available in the market; that Avinger would not be able to achieve a rapid ramp rate for increased sales of its lumivascular platform; and that as a result, the Company was experiencing lower sales and revenues. When this information was released, Avinger's share price dropped, causing investors harm according to the Complaint. On May 3, 2017, the stock closed at $0.57 per share, a decline of over 95% from the IPO price.
If you wish to learn more about this lawsuit, or if you have any questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone at (949) 419-3834, or via e-mail at [email protected].
This press release may constitute Attorney Advertising in some jurisdictions.
Joon M. Khang, Esq.
SOURCE: Khang & Khang LLP