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Lawsuit for Investors Who Purchased Shares of Avalanche Biotechnologies Inc (NASDAQ:AAVL) in the Jan. 2015 Stock Offering Announced by Shareholders Foundation

SAN DIEGO, Dec. 15, 2015 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of investors who purchased shares of Avalanche Biotechnologies Inc (NASDAQ:AAVL) in Avalanche Biotechnologies’ follow-on public stock offering completed on January 13, 2015.

Investors who purchased shares of Avalanche Biotechnologies Inc (NASDAQ:AAVL) in Avalanche Biotechnologies’ follow-on public stock offering completed on January 13, 2015 have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff claims that the Registration Statement filed with the SEC in connection with Avalanche Biotechnologies’ follow-on public stock offering was negligently prepared and, as a result, contained untrue statements of material facts or omitted to state other facts necessary to make the statements made not misleading, and was not prepared in accordance with the rules and regulations governing its preparation.

On June 15, 2015, Avalanche Biotechnologies Inc announced phase 2a results for AVA-101 in Wet Age-Related Macular Degeneration. Avalanche Biotechnologies Inc announced that its Phase 2a clinical study for AVA-101 met its 12-month primary endpoint, based on ophthalmic and systemic safety, demonstrating that AVA-101 was well tolerated with a favorable safety profile in subjects with wet age-related macular degeneration (wet AMD). However, in a conference call to discuss Phase 2 clinical trial results, Avalanche Biotechnologies Inc indicated that the study wasn't designed to show statistically significant differences between active and control groups.

Shares of Avalanche Biotechnologies Inc (NASDAQ:AAVL) declined from as high as $62.48 per share in January 2015 to as low as $7.40 per share in October 2015.

Those who purchased shares of Avalanche Biotechnologies Inc (NASDAQ:AAVL) in Avalanche Biotechnologies’ follow-on public stock offering completed on January 13, 2015 have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

Shareholders Foundation, Inc. Michael Daniels +1 (858) 779-1554 mail@shareholdersfoundation.com 3111 Camino Del Rio North Suite 423 San Diego, CA 92108

Source:Shareholders Foundation, Inc.