WILMINGTON, Del., Feb. 05, 2016 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of Anavex Life Sciences Corp. (NASDAQ:AVXL)?
- Did you purchase your shares between May 17, 2013 and December 28, 2015, inclusive?
- Did you lose money in your investment?
Rigrodsky & Long, P.A. announces that a complaint (the “Complaint”) has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased the common stock of Anavex Life Sciences Corp. (“Anavex” or the “Company”) (NASDAQ:AVXL) between May 17, 2013 and December 28, 2015, inclusive (the “Class Period”).
The Complaint alleges that the Company and certain of its officers and directors (“Defendants”) violated the Securities Exchange Act of 1934 by making materially false and misleading statements, and omitting material facts, about Anavex’s business, operations, and prospects.
According to the Complaint, Defendants misrepresented and/or failed to disclose that during the Class Period, the Company used a paid stock promoter to artificially inflate the price of Anavex stock. On December 29, 2015, the Company disclosed that it had been subpoenaed by the Securities and Exchange Commission in connection with “the recent unusual activity in the market for the Company’s shares.” On the day of that disclosure, the price of Anavex shares fell from a close of $7.03 per share to $6.29 per share. On the following day, December 30, 2015, Anavex’s stock price closed at $5.50 per share.
If you wish to serve as lead plaintiff, you must move the Court no later than February 29, 2016. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
If you suffered a loss in Anavex and would like to obtain additional information, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail at info@rl-legal.com; or at http://rigrodskylong.com/investigations/anavex-life-sciences-corp-avxl/.
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