Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, April 19, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Alvotech (“Alvotech” or “the Company”) (NASDAQ: ALVO) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Alvotech investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The investigation centers on whether Alvotech deceived investors by issuing misleading or untrue statements or withholding crucial information. On April 13, 2023, Alvotech disclosed that the FDA had contacted it regarding deficiencies in its Reykjavik, Iceland manufacturing facility and processes following the agency's March 2023 inspection. Alvotech admitted that these deficiencies would need to be resolved before the approval of the Company’s Biologics License Application (BLA) for AVT02. Following this announcement, Alvotech's shares plummeted by 22.1%.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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