Lawsuit filed for Investors who lost money with shares of AlloVir, Inc. (NASDAQ: ALVR)

An investor, who purchased shares of AlloVir, Inc. (NASDAQ: ALVR), filed a lawsuit over alleged violations of Federal Securities Laws by AlloVir, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of AlloVir, Inc. (NASDAQ: ALVR) have certain options and for certain investors are short and strict deadlines running. Deadline: March 19, 2024. NASDAQ: ALVR investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Waltham, MA based AlloVir, Inc. (NASDAQ: ALVR), a clinical-stage cell therapy company, engages in the research and development of allogeneic, off-the-shelf multi-virus specific T cell (VST) therapies to prevent and treat devastating viral-associated diseases.

In March 2022, AlloVir, Inc. initiated global phase 3 registrational studies of its lead product posoleucel for the prevention of life-threatening viral infections from viruses in high-risk, allogeneic hematopoietic cell transplant patients (the "posoleucel Phase 3 Studies").

On December 22, 2023, AlloVir, Inc. (NASDAQ: ALVR) announced that it was discontinuing the posoleucel Phase 3 studies over efficacy concerns and stated that it would explore strategic alternatives for the Company. Specifically, AlloVir said it was discontinuing the posoleucel Phase 3 studies after pre-planned analyses concluded they wouldn't meet their primary endpoints.

Shares of AlloVir, Inc. (NASDAQ: ALVR) declined from $2.395 per share on December 07, 2023, to as low as $0.639 per share.

The plaintiff claims that between March 22, 2022 and December 21, 2023, the defendants made false and/or misleading statements and/or failed to disclose that the posoleucel Phase 3 Studies were unlikely to meet their primary endpoints, that as a result, it was likely that the Company would ultimately discontinue the posoleucel Phase 3 studies, that accordingly, AlloVir overstated the efficacy and clinical and/or commercial prospects of posoleucel, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

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

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 lawsuits, 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.

This release was published on openPR.