LOS ANGELES--(BUSINESS WIRE)--
Glancy Binkow & Goldberg LLP announces that all purchasers of the securities of AVEO Pharmaceuticals, Inc. (“AVEO” or the “Company”) (AVEO) between January 3, 2012 and May 1, 2013 (the “Class Period’) have until July 8, 2013 to file a motion to be appointed as lead plaintiff in the shareholder lawsuit filed in the United States District Court for the District of Massachusetts. Investors who have losses of $200,000 or more are encouraged to contact the firm for information concerning a lead plaintiff position in the shareholder lawsuit.
A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW & GOLDBERG LLP. PLEASE CONTACT US AT (212) 682-5340, TOLL-FREE AT (888) 773-9224, OR AT SHAREHOLDERS@GLANCYLAW.COM. IF YOU INQUIRE BY EMAIL PLEASE INCLUDE YOUR MAILING ADDRESS, TELEPHONE NUMBER AND NUMBER OF SHARES PURCHASED.
AVEO engages in discovering, developing, and commercializing targeted cancer therapies. The Complaint alleges that defendants issued materially false and misleading statements throughout the Class Period regarding the Phase III trial design and results for the Company’s drug Tivopath, or tivozanib, for the treatment of advanced kidney cancer. Specifically, defendants misrepresented or failed to disclose: (1) that the FDA had recommended that the Company conduct an additional Phase III trial due to adverse trends in the Company’s first Phase III trial; (2) the 25% higher rate of death associated with tivozanib therapy compared to the control drug, sorafenib; (3) that almost 90% of the patients studied in TIVO-1 were enrolled from sites in Central and Eastern Europe with inconsistent treatment patterns from those in the U.S.; and (4) as a result of the foregoing, the Company’s statements were materially false and misleading at all relevant times.
To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. To learn more about this action or if you purchased AVEO stock prior to the Class Period and have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll-Free at (888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by e-mail to email@example.com, or visit our website at http://www.glancylaw.com.
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