NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Avinger, Inc. (NASDAQ:AVGR) resulting from allegations that Avinger may have issued materially misleading business information to the investing public.
On January 30, 2015, Avinger held its initial public offering (“IPO”) at $13.00 per share. On July 12, 2016, Avinger 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. On this news, Avinger’s stock price plunged nearly 40%, from $11.43 per share to $6.89 per share, damaging investors. Avinger stock has continued to decline. On May 8, 2017, Avinger’s stock price closed at $0.47 per share, a decline of more than 96% from the IPO price of $13.00 per share.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Avinger investors. If you purchased shares of Avinger, please visit the firm’s website at http://www.rosenlegal.com/cases-1124.html for more information. You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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