Levi & Korsinsky, LLP announces the filing of a class action lawsuit in the USDC for the Southern District of New York on behalf of shareholders of Anavex Life Sciences Corp. (NASDAQ: AVXL) who purchased shares between May 17, 2013 and December 28, 2015.
According to the complaint, Anavex issued misleading statements and failed to disclose that the Company had used a paid stock promoter to artificially inflate the Company’s share price. On December 29, 2015, Anavex disclosed that it had received a subpoena from the SEC on December 22, 2015. Anavex stated, in part, that “[t]he Company believes the subpoena and investigation relate to the recent unusual activity in the market for the Company’s shares.” Then on December 30, 2015, Seeking Alpha published a report entitled “Anavex: A Regulatory Target Damaged By Incriminating Evidence.” On this news, Anavex stock fell $0.78, or 12.42%, to close at $5.50 per share. If you suffered a loss in Anavex you have until February 29, 2016 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.
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