Harwood Feffer LLP Announces Investigation of Avalanche Biotechnologies, Inc.
Jun 16, 2015
NEW YORK, June 16, 2015 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Avalanche Biotechnologies, Inc. ("Avalanche" or the "Company") (NASDAQ: AAVL), concerning whether the board has breached its fiduciary duties to shareholders.
On June 15, 2015, the Company issued a press release announcing "positive" top-line phase 2a results for its Wed Age-Related Macular Degeneration product candidate. Although the Company framed the results as positive, the Company stated the study was not designed to show statistically significant differences between active and control groups. On this news, the Avalanche stock dropped approximately 50% to close at $19.68 per share, down over $19.00 per share.
Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.
If you own Avalanche shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
(212) 935-7400
Email: bsachsmichaels@hfesq.com
Website: http://www.hfesq.com
Follow us on Twitter: @HarwoodFeffer
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
The law firm responsible for this advertisement is Harwood Feffer LLP (www.hfesq.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter.
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