NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. is investigating potential claims against Avinger, Inc. (NASDAQ:AVGR). Our investigation concerns whether Avinger has violated the federal securities laws and/or engaged in other unlawful business practices.
Avinger designs, manufactures, and sells medical devices used to treat patients with peripheral arterial disease.
On January 30, 2015, Avinger held its IPO at $13 per share. On July 12, 2016, the Company announced second quarter revenue results and lowered its 2016 sales guidance from $25 - $30 million to $19 - $23 million due to lower-than-anticipated sales of the Company’s Pantheris device. Following this news, Avinger shares fell $4.54 per share, or nearly 40%, to close at $6.89 on July 13, 2016.
Avinger shares have continued to decline. On May 17, 2017, shares closed at $0.40, a decline of nearly 97% from the IPO price.
If you purchased or otherwise acquired Avinger securities and suffered a loss, have information, 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 Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning our investigation into Avinger, please go to www.bespc.com/avinger. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.