NEW YORK, NY / ACCESSWIRE / January 12, 2024 / Pomerantz LLP is investigating claims on behalf of investors of AlloVir, Inc. ("AlloVir" or the "Company") (NASDAQ:ALVR). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether AlloVir and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On December 22, 2023, AlloVir announced that it was discontinuing three Phase 3 studies testing the Company's T cell therapy posoleucel for the prevention of certain viruses in immunocompromised people over efficacy concerns and stated that it would explore strategic alternatives for the Company. Specifically, AlloVir said it was discontinuing the studies after pre-planned analyses concluded they wouldn't meet their primary endpoints.
On this news, AlloVir's stock price fell sharply during intraday trading on December 22, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP
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