Avinger, Inc. is a medical device company that designs, manufactures and sells image-guided, catheter-based systems for the treatment of patients with peripheral artery disease.

According to the Complaint, it is alleged that the IPO Registration Statement was materially false and misleading and/or omitted to state: (1) that the Company’s Pantheris product and its other Lumivascular products had substantial reliability issues; (2) that the reliability issues would negatively impact sales of the Company’s products; (3) that the Company’ 3 products were not commercially viable; and (4) that, as a result of the foregoing, Defendants’ statements in the IPO Registration Statement regarding Avinger’s business, operations, and prospects were materially false and/or misleading, and/or lacked a reasonable basis.

On July 21, 2017, the Court issued an Order remanding this action to the San Mateo County Superior Court. A related action continues under Docket 17-CV-03400.

On October 11, 2017, the Court issued an Order appointing Lead Plaintiffs and Counsel. Lead Plaintiffs filed an amended Complaint on November 21. On March 19, 2018, Lead Plaintiffs filed an amended consolidated Complaint. On May 9, the parties entered into a Stipulation of Settlement. The Court granted preliminary approval of the Settlement on June 13. On October 24, the Court granted final approval of the Settlement and entered Final Judgment.