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 AVROBIO, Inc. (NASDAQ: AVRO), resulting from allegations that AVROBIO may have issued materially misleading business information to the investing public.
On March 16, 2020, AVROBIO issued a press release announcing the Company’s financial and operating results for the fourth quarter and fiscal year 2019. The Company reported a net loss of $22.7 million for the quarter, and a net loss of $73.0 million for the year, compared to a net loss of $16.0 million and a net loss of $46.4 million for the comparable periods in 2018. AVROBIO stated that “[t]hese increases were due to increased research and development expenses, as well as increased general and administrative expenses.”
On this news, AVROBIO’s stock price fell $4.80 per share, or 32.26%, to close at $10.08 per share on March 16, 2020.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by AVROBIO investors. If you purchased shares of AVROBIO please visit the firm’s website at http://www.rosenlegal.com/cases-register-1814.html to join the class action. You may also contact Phillip Kim 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. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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