NEW YORK--(BUSINESS WIRE)--The Law Offices of Vincent Wong announce that a securities action has been commenced on behalf of investors who purchased Avinger, Inc. ("Avinger") (NASDAQ: AVGR) securities pursuant and/or traceable to the Company’s Stock Offering on or about January 30, 2015.
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The complaint alleges that the Registration Statement and Prospectus filed for the Company’s Initial Public Offering 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) the Company 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 its lumivascular platform products compared to competing products and procedures available in the market; (4) Avinger would not be able to achieve a rapid ramp rate for increased sales of its lumivascular platform; and (5) as a result, the Company was experiencing lower sales and revenues.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.