SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Class Action Against Avinger, Inc. (AVGR) & Lead Plaintiff Deadline: September 5, 2017

NEW YORK, July 7, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Avinger, Inc. ("Avinger" or the "Company") (NASDAQ: AVGR) and certain of its officers, on behalf of shareholders who purchased Avinger common stock pursuant to the Registration Statement and Prospectus issued in connection with Avinger's initial public offering ("IPO") on or around January 30, 2015. Such investors are encouraged to join this case by visiting the firm's site: http://www.bgandg.com/avgr.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1933.

The complaint alleges that the Registration Statement and Prospectus filed for Avinger's IPO contained materially false and misleading statements and/or failed to disclose that: (1) Avinger did not have adequate sales and marketing personnel to increase sales of its lumivascular platform products and to commercialize Pantheris; (2) Avinger already experienced problems with the robustness of its lumivascular platform devices, including Pantheris; (3) physicians and hospitals were requiring more extensive and comprehensive training and education on the benefits of Avinger's products to convince them to adopt and implement its lumivascular platform products compared to competing products and procedures available in the market; (4) Avinger would not be able to achieve a rapid ramp rate for increased sales of its lumivascular platform; and (5) consequently, Avinger was experiencing lower sales and revenues.

On January 30, 2015, Avinger held its IPO at $13.00 per share. On July 12, 2016, Avinger released its preliminary second quarter 2016 revenue results and said it expects a total revenue of $4.7 million for the second quarter ended June 30, 2016, versus the consensus estimate of $5.70 million. Avinger also stated that it projects its 2016 revenue to be roughly between $19 million to $23 million, compared to its previous guidance estimated between $25 million to $30 million, due in part to lower than anticipated sales of its Pantheris device. Following this news, Avinger stock dropped about 40%, from $11.43 per share to $6.89 per share. Avinger stock has continued to drop and on May 23, 2017, Avinger stock closed at $0.36 per share.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: http://www.bgandg.com/avgr or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Avinger you have until September 5, 2017 to request that the Court appoint you as lead plaintiff.  Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration.   Attorney advertising. Prior results do not guarantee similar outcomes.

Contact: 
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]

SOURCE Bronstein, Gewirtz & Grossman, LLC

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