On or around 10/24/2018 (Date of order of final judgment)
Filing Date: June 12, 2017
According to the Complaint, it is alleged 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.
Company & Securities Information
Defendant: Avinger, Inc.
Industry: Medical Equipment & Supplies
Headquarters: United States
Ticker Symbol: AVGR
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
Order Appointing Lead Plaintiffs and Approving Plaintiffs' Selection of Lead Counsel
Consolidated Class Action Complaint for Violations of the Federal Securities Laws
Amended Consolidated Class Action Complaint for Violations of the Federal Securities Laws
Stipulation of Settlement
Plaintiffs' Notice of Motion and Unopposed Motion for Preliminary Approval of Class Action Settlement, Class Certification, Issuance for Notice and Setting of Date for Final Settlement Hearing; Memorandum of Points and Authorities in Support Thereof
Order Preliminarily Approving Settlement and Providing for Notice of Proposed Settlement
U.S. District Court Civil Docket
Order Granting Plaintiffs' Counsel's Motion for Attorneys' Fees and Expenses and Sec. 78u-4(a)(4) Service Awards to Class Representatives
Order Approving Plan of Allocation of Net Settlement Fund
Final Judgment and Order of Dismissal with Prejudice