LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of AVROBIO, Inc. (“AVROBIO” or “the Company”) (NASDAQ: AVRO) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. AVROBIO released its financial and operating results for the fourth quarter and fiscal year 2019 on March 16, 2020. The Company reported a net loss of $22.7 million for the quarter and a loss of $73 million for the year. These results are especially negative when compared to the Company’s loss of $16 million for the fourth quarter of 2018 and $46.4 million for the fiscal year of 2018. The Company commented on its increasing losses, staying: “These increases were due to increased research and development expenses, as well as increased general and administrative expenses.” Based on this news, shares of AVROBIO fell by more than 32% on the same day.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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