LOS ANGELES--(BUSINESS WIRE)--Lundin Law PC, a shareholder rights firm, announces that it is investigating claims against Avinger, Inc. (“Avinger” or the “Company”) (Nasdaq: AVGR) concerning possible violations of federal securities laws.
To get more information about this investigation, please contact Brian Lundin, Esquire, of Lundin Law PC, at 888-713-1033, or by email at firstname.lastname@example.org.
On January 30, 2015, Avinger had its Initial Public Offering (“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 its Pantheris device. When this information was announced, Avinger’s stock price 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. When this information reached the public, shares of Avinger again decreased in value.
Lundin Law PC was founded by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
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