Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, March 04, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises AlloVir, Inc. (“AlloVir or the “Company”) (NASDAQ: ALVR) investors that a lawsuit was filed on behalf of investors that purchased AlloVir securities between March 22, 2022 and December 21, 2023, inclusive (the “Class Period”).
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 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 complaint details that AlloVir, a cell therapy company focused on developing T cell therapies for viral diseases, initiated phase 3 studies for its product posoleucel in March 2022 to prevent viral infections in certain transplant patients. However, during the Class Period, the company is accused of making false or misleading statements and not disclosing that the posoleucel Phase 3 studies were unlikely to meet their primary endpoints, which would likely lead to their discontinuation. Ultimately, AlloVir announced the discontinuation of these studies on December 22, 2023, due to efficacy concerns, causing a significant drop in its stock price.
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The Portnoy Law Firm represents investors in pursuing claims 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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