The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO) who purchased shares between August 4, 2016 and January 31, 2019. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
(i) 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 June 2013; (ii) tivozanib had insufficient survival data to meet FDA approval following its initial 2013 rejection; (iii) this lack of sufficient survival data would put tivozanib at greater risk of delayed FDA approval; and (iv) as a result, AVEO’s public statements were materially false and misleading at all relevant times.
Shareholders have until April 26, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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