LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Alvotech (“Alvotech” or “the Company”) (NASDAQ: ALVO) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Alvotech disclosed on April 13, 2023, that it had received communication from the FDA regarding the agency’s March 2023 inspection of its manufacturing facility in Reykjavik, Iceland. The Company admitted that the FDA identified deficiencies in its facility and processes that must be fixed before the approval of the Company’s Biologics License Application (BLA) for AVT02. Based on this news, shares of Alvotech fell by 22.1%.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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