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AVROBIO, Inc. (NASDAQ: AVRO) Investor Investigation over potential Wrongdoing

05-01-2020 03:04 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of investors in AVROBIO, Inc. (NASDAQ: AVRO) shares over potential wrongdoing at AVROBIO, Inc.

An investigation on behalf of investors in AVROBIO, Inc. (NASDAQ: AVRO) shares over potential wrongdoing at AVROBIO, Inc.

Certain directors of AVROBIO, Inc are under investigation over potential breaches of fiduciary duties.

Investors who purchased shares of AVROBIO, Inc. (NASDAQ: AVRO) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain AVROBIO directors breached their fiduciary duties and caused damage to the company and its shareholders.

Cambridge, MA based AVROBIO, Inc., a clinical-stage gene therapy company, focuses on developing ex vivo lentiviral-based gene therapies to treat rare diseases following a single dose in the United States. On March 16, 2020, AVROBIO, Inc. released its financial and operating results for the fourth quarter and fiscal year 2019. 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. AVROBIO, Inc. commented on its increasing losses, staying: "These increases were due to increased research and development expenses, as well as increased general and administrative expenses." Shares of AVROBIO, Inc. (NASDAQ: AVRO) declined from $29.32 per share on February 12, 2020, to as low as $9.76 per share on March 17, 2020.

Those who purchased shares of AVROBIO, Inc. (NASDAQ: AVRO) have certain options and should contact the Shareholders Foundation.

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

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, 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. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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