BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Avinger, Inc. (“Avinger” or the “Company”) (NASDAQ: AVGR) investors concerning the Company and its officers’ possible violations of federal securities laws.
On July 12, 2016, the Company lowered its fiscal year 2016 revenue guidance from a range of $25 million to $30 million down to a range of $19 million to $23 million noting that the Company “experienced lower than expected utilization of Pantheris in the second quarter.” On this news, the Company’s stock price fell $4.54 per share, or nearly 40%, thereby injuring investors. On May 8, 2017, the Company’s stock price closed at only $0.47 per share, which represented a decline of more than 96% from the initial public offering price of $13.00 per share.
If you purchased Avinger securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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