NEW YORK--(BUSINESS WIRE)--Scott + Scott, LLP, a global investor rights law firm, has opened an investigation to determine whether Anavex Life Sciences (AVXL) violated the federal securities laws by issuing materially misleading information to the investing public.
In particular, the firm is investigating whether Anavex issued misleading statements and failed to disclose that the Company had used a paid stock promoter to artificially inflate the Company’s share price. On December 29, 2015, Anavex disclosed that it had received a subpoena from the SEC on December 22, 2015. Anavex stated, in part, that “[t]he Company believes the subpoena and investigation relate to the recent unusual activity in the market for the Company’s shares.” Then on December 30, 2015, Seeking Alpha published a report entitled “Anavex: A Regulatory Target Damaged By Incriminating Evidence.” On this news, Anavex stock fell $0.78, or 12.42%, to close at $5.50 per share.
To learn about the investigation, go to: http://www.cases-scott-scott.com/anavex/. There is no cost or obligation to you.
You can also call the firm toll-free at 1-866-326-5057 or email email@example.com for information about the investigation.
Scott + Scott, LLP has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. This release may be considered attorney advertising in some jurisdictions under the applicable laws and ethical rules.