NEW YORK, March 08, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against AVEO Pharmaceuticals, Inc. (“AVEO” or the “Company”) (NASDAQ: AVEO) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired AVEO securities between August 4, 2016 through January 31, 2019, both dates inclusive (the “Class Period”). Investors are encouraged to learn more about this case by visiting the firm’s site: www.bgandg.com/aveo.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

The Complaint alleges that Defendants made materially false and misleading statements and/or failed to disclose that: (1) the TIVO‑3 trial was inadequately designed to address the OS concerns regarding AVEO’s lead candidate drug, tivozanib, from the TIVO-1 trial presented in the June 2013; (2) tivozanib had insufficient survival data to meet FDA approval following its initial 2013 rejection; (3) this lack of sufficient survival data would put tivozanib at greater risk of delayed FDA approval; and (4) as a result, AVEO’s public statements were materially false and misleading at all relevant times.

On January 31, 2019, Boston Business Journal reported that “AVEO revealed that it won't submit its application for FDA approval due to a recommendation from the agency gather more late-stage testing results. Specifically, the FDA is asking for additional survival data, echoing concerns that led to the agency's rejection of the same drug in 2013.” Following this news, AVEO stock dropped $1.07 per share, or over 60%, to close at $0.70 per share on January 31, 2019.

A class action lawsuit has already been filed. If you are an AVEO shareholder and wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/aveo. You may also contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. You have until April 16, 2019 to request that the Court appoint you as lead plaintiff.  Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration.   Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com