NEW YORK, March 2, 2020 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Adverum Biotechnologies, Inc. ("Adverum" or the "Company") (NASDAQ: ADVM). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Adverum and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On September 12, 2019, Adverum issued a press release announcing clinical data from the OPTIC Phase 1 clinical trial of the Company's product ADVM-022 as a treatment for wet age-related macular degeneration. Among other data, Adverum disclosed that patients taking ADVM-022 suffered significant deterioration in their sight.
On this news, Adverum's stock price fell $6.04 per share, or 50.33%, to close at $5.96 per share on September 12, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 9980
SOURCE Pomerantz LLP